Friday, October 10, 2008

Bear Market

I'd be lying if I said I was unconcerned by the eight days (counting today) of major losses that the NYSE has absorbed. Each day, I get to work and have the NYSE website up following the market; each day, I see the Dow get hammered; and each day, I go home a bit depressed.

I'm not depressed for myself--I have hardly any stocks except in my 403(b) plan and I'm young enough that I would expect that these losses will be recouped down the road. But I think about all those who are hurting as a result of these losses--a friend whose wife's stock has dropped from $59 to $2; a family member who has to guide his organization through these difficult times; another family member who just retired and now is wondering whether he left too early. I think about our endowment and the endowments of other evangelical seminaries; I think about those saints in our congregations who support ministries through their stock dividends.

No doubt there are those whose lives are characterized by greed. But it is important to remember those people (and institutions) who have invested funds in the stock market as a way of supporting their families, funding their retirements, or even supporting their biblical and spiritual mission.

It is at these times that my heart and mind are pulled back to Psalm 62: "For God alone, O my soul, wait in silence, for my hope is from him. He only is my rock and my salvation, my fortress; I shall not be shaken. On God rests my salvation and my glory; my mighty rock, my refuge is God. Trust in him at all times, O people; pour out your heart before him;God is a refuge for us." I take my heart to God--he is a refuge and a rock, even in a world that seems like it is shaking. I can pour my heart out to him, because he hears in his strength and his might. And I find him to be salvation and glory, even when I find I must tighten my belt a bit. I wait for God in silence and hope that he will speak.

1 comment:

sam said...

In investing, financial markets are commonly believed to have market trends that can be classified as primary trends, secondary trends (short-term), and secular trends (long-term). This belief is generally consistent with the practice of technical analysis and broadly inconsistent with the standard academic view of financial markets, the efficient market hypothesis.
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