Larger Than Life

The business world was overshadowed for me this week by the death of Senator Edward Kennedy.I was just watching his wake.I'm old enough to remember his late brothers John and Robert,so you'll have to understand.His niece Caroline gave the closing eulogy,and I think it was the best.She described the historical tours he organized for the whole large family.The teenagers groaned,but they wouldn't have missed it for your life.Now he is gone,we who are left will have to do the good things everyone always relied on Uncle Ted to do.Yes,new leaders must constantly be recruited in this life,given its brevity.Any one of us may be called upon at any time.Let's pray God we will be ready.The Kennedy brothers were.

Portfolios Rebound

Portfolios are starting to look the way they used to.That is,they're starting to be worth something again.They have a way to go,but it's certainly been a relief to see them recover lately.The worry is,September and October are drawing near.Historically,these have been terrible months for the market.The contrarian could well have an advantage now.Contrarians are expanding their bond holdings,gold and cash.They suspect the early autumn could see a significant decline for equities,so they are buffering their holdings.Recent history makes it easier than ever to be a contrarian.You just don't want to have your assets knocked down to nothing again.You're warier than you ever thought you could be.
Have a valuable evening.

Welcome

Welcome to The Friday Late.It's a blog that will feature brief thoughts about the business week just ended-and perhaps some surprises.Good to have you along.