You believe in capitalism...

As I type the Dow is up over 200 points on the morning. The headlines suggest that supportive comments from world central bank officials (money-printers R us), a spike in existing home prices and a surge in consumer confidence has inspired willingness in buyers and stinginess in sellers. Makes sense (given how short-term traders think) to me.

Now, while you'll love your monthly statement if this keeps up, the price of stocks---that you happen to hold---agreed on by the final buyers and sellers of the day on May 31 is too fleeting a phenomenon to be getting all giddy about.

Thus, the whims of short-term traders will never be the focus for you---the savvy long-term investor. The market for stocks itself is not deserving of your affection. The marketplace---where goods and services are produced and sold---however, is. As I continue to preach, you own

Apple because you and/or oodles of people you know own an iPhone.
Google because you google.
Disney because you like movies, etc.
McDonald's because you see the traffic at their drive-thru windows.
Starbucks because you (and/or) love their coffee.
Lowe's because you own a house.
Exxon Mobil because you drive.
Boeing because you fly.
Monsanto because you eat.
Many, if not all, of the remaining 286 companies featured in the IShares S&P 500 Growth Index ETF because you believe they will continue to produce goods that others who produce goods---or who contribute to the production of goods (or services)---will want to buy.

In other words, you own companies because you believe in capitalism...