What a brutal couple of days in the stock market to close out this week! I guess there were a myriad of reasons colluding to tell the market it was the time to correct and do so quickly. It’s definitely a time to be cautious and to “Choose Stocks Wisely.”
It’s yet to be seen what the various happenings (China slowdown, commodities dropping in price precipitously, the Fed’s plan to raise interest rates, etc.) will mean when earnings season arrives again soon. But, regardless, I suspect we are in for a pretty volatile week next week.
I spent my career teaching for Mississippi State University in Meridian and loved every minute of being in the class room among students who were ready to learn accounting. Even though I retired in 2010, I was blessed to be able to continue teaching part-time with MSU for four more years. My colleagues there are wonderful people and friends I’ll always carry in my heart. Next week, I’ll start teaching again part-time for Florida State University in Panama City and am looking forward to it. Teaching is a wonderful privilege and responsibility. It will be a new adventure for my wife, Mickie, and I in these retirement years.
As to taking off my Bulldog cap when football starts, well, that’s a transition I wouldn’t count on. Go Dawgs!
Maybe I’ll be mistaken about next week in the stock market; maybe the rapid-fire decline will be taken in stride by the time the weekend is over and next week will show much less turmoil. This week was surely a Rolaids kind of week.
Have a good weekend!
Paul,
I wish you and your family the best of luck as you begin teaching in Panama City. We were quite blessed to have you as an instructor at MSU. You gave us not only an accounting education, but provided us wisdom as well.
May the peace of Christ be with you,
Bill
Dear Bill,
God bless you, friend. It has been my privilege to know you since you were real young and then to have in you in class as an excellent student; and now a wonderful man with strong character. Thanks for the kind words.
Paul
I ended the week 48% cash, 52% invested of the 52% in the market 33% is short either by inverse etf or individual stock. I’ll have plenty of cash when the correction ends. I will be running the CSW scan every week to identify opportunities.
Julian,
You certainly poised yourself to take advantage of unusual opportunities that could present themselves!
Paul