My morning routine usually starts with a review of the Emails, then I evaluate the market futures to see if the Financial World has come to an end overnight. I always enjoy watching the younger host (CNBC) delight in telling me the neck sapping chart moves in the futures market. They get such glee when the market looks like it is going down and I could swear I see a frown when they see an uptick. This morning I was prompted to write this article which illustrates the fallacy of a short term view of ......ALMOST EVERYTHING. Bobby Tony 12/10/2018 09:35 AM
"On June 16, 1884, the first roller coaster in America opens at Coney Island, in Brooklyn, New York. Known as a switchback railway, it was the brainchild of LaMarcus Thompson, traveled approximately six miles per hour and cost a nickel to ride. The new entertainment was an instant success and by the turn of the century there were hundreds of roller coasters around the country." -----https://www.history.com/this-day-in-history/first-roller-coaster-in-america-opens
Some people love riding roller coasters while others get sick to the stomach with just the thought of one. Some also have the same fear when it comes to life's ups and downs. But the one overriding fact is that regardless of the ups and downs, most roller coasters end up right back where they started and it is not as dangerous at it may seem.
Deaths on the Coney Island Roller coaster:
- On May 26, 1985, a 29-year-old man was killed while riding the Cyclone. He stood up and struck his head on a crossbeam.
- On August 23, 1988, a 26-year-old man was killed after falling from the Cyclone. The man was a maintenance worker and was the only passenger at the time, riding in the back seat of the train during his lunch break. Apparently, he eluded the safety bar and was seen standing up as the train began its descent down the first hill. He fell 30 feet and landed on a crossbeam of a lower section of track. He died instantly. The ride was closed following the incident, but was reopened a day later after safety inspectors concluded that the ride was safe.
- On July 31, 2007, a 53-year-old man suffered several crushed vertebrae in his neck while riding the Cyclone. He died four days later due to complications of surgery.
I have no way of knowing if the Stock market will end up right back where it started, but I do know that if you let me pick the two dates: Start and Finish. I can smooth out any roller coaster ride. As an investor with some years under his belt, I only wonder now where I will be when I get off the Roller Coaster of the stock market (i.e. DIE). If you are one of those who don't think you are invested in the market, be sure to keep an eye on that spot in the yard where you have your money buried. If you don't have all your money buried in the yard, you are most definitely invested in the market.
Every time I get up and hear about the impending boom or bust in the market I am reminded about the Coney Island roller coaster. It may cost way more than a nickel now to ride but the ups and downs of today's modern roller coaster provide significantly more thrills than the old wooden structure.
When I have a tendency to over react to the daily fluctuations in the market I use my trusty old Excel Chart to smooth out the dips and valleys. As you can see below, the charts on the left show the daily fluctuations in the Dow Jones and S&P 500 closing. The Charts on the right use the same numbers but only show the first and last (Jan 1- Dec 7). The start and end are the same for both charts, but the thrill seekers can pay their nickel and enjoy the ride. The rest of us can stay on the bench and wait for the first car to come back into the station.
Date from Yahoo Finance Historical Data
It's all pretty simple when you stop to think about it. My point is you don't get to pick when you start (BORN) and when you stop (DIE) riding the coaster or life's rails. You only get to pick how much fun you have on the ride.
The secret is to ride it as long as you can before the brakes kick in. But above all else:
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