taking a beating

So the market can be great... and it can also suck.

I've (like many including billion-dollar fund managers) have taken quite a beating in the past 2 months.  I hit an all-time high in my accounts late February/early March, and it's a slow grindly painful, lumpy, bumpy downward road ever since.  Probably somewhere to the tune of 20-25%...  Which just so as it turns out is completely in lock step with the TSX.

Now, in all fairness, thanks to my heavy-handed REIT and dividendy portfolio I haven't sagged quite that badly.  Mind you only to the tune of oh... 2-3%.  But I'll take it!  (And re-invest it at these new discounted levels).

So yes, I'm still unchanged.  I haven't done any panic selling, although to be completely honest I have been very very tempted since there's a fancy coffee grinder I want to buy to replace my "Rocky" which isn't quite up to the task.

The world is once again locked into listening to fears of European debt problems.  But I have to say this, "big fat hairy deal!"

The people of Greece, Italy, Portugal, bumble-@#$-istan, still have to eat, they still have to get to work, they still have to feed, house, clothe their children.  Commerce happens no matter how much fear exists.  Sure, people trade down the quality ladder...  (But that's another story since the crap they buy breaks faster requiring more rapid replacement so what they lose in margin they make up for in volume)

Sure the travel, tourism, hotel, restaurant industries to take a beating, but consumer staples always remain a requirement of life.

Just like last year, the good numbers coming out of North American companies will eventually persuade people to stop caring about media fear-mongering.  (Or Greece will default, withdraw from the EUR... it will be messy.  The markets will swing wildly.)  But eventually things will settle down and people will get back to the business of excessive consumerism, keeping up with the Jones', and the other fine aspects of enjoying life so that we once again return to a huge bull market for several years until the next sociopolitical event or crooked bank crisis spurns the next round of recessions.

The markets will continue to be lumpy for a while.

Try to not panic and DO buy more of the stuff you like.  (Unless of course news breaks that the CEO is a crack-head)