Monday, March 17, 2008
I promise, I'm going to stop looking, but it's so hard! The market is crazed with sellers as JP Morgan announced yesterday that they will purchase Bear Stearns for $2 dollars a share. TWO DOLLARS?!? Are you kidding me? Bear is one of the largest securities firms in the world and it's being sold as a micro cap stock. On its plunge from $26 a share, it's taken the market with it, hence, I NEED to stop looking at my portfolio. I feel like a pin cushion and the needles are coming from all directions. Perhaps, it's hard to avoid the market as I do work in the industry. My dad and I spoke at dinner last night about our thoughts on the economy and what it means for the world. It's difficult because we guess about 10% of the population truly understands what's happening and it seems those 10% still don't know what to do about it. On some level, I'm extremely happy that I applied to business school this year because next year, there will likely be more applicants and another very strong pool.