Sunday, June 17, 2012

Breakfast with Dad - Or - You might be shanking your seven iron come next weekend

Having breakfast with Dad at Country Waffles.My wife shows me the news flash text exit polls in Greece show Syriza and The New Democracy parties are in a dead heat.

Me: If Syriza can gain a majority, the Dow could easily take a 600 point hitMonday morning. Except for the fact that central banks stand ready to print like mad: they're desperate to hold this thing together. So who knows? Maybe the market will rally either way.

Dad: Listening to you, I think I'll put all my money in money market.

Me: Not me, I'll be buying like mad. My challenge will be keeping my clients off the edge.

Dad: I played a little better golf last Friday.

Me: Cool, what'd ya score?

Ie., no matter what happens next week, we'll all be doing our things: we'll eat (that's why you own the fund that owns Kraft, Kellogg, General Mills, etc.), we'll work, we'll recreate, and the market will deliver the occasional buying opportunity. Although if Syriza wins, you might be shanking your seven iron come next weekend.

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