Reflections from the Beach
By James J Puplava CFP, August, 2002
Wednesday, August 14, 2002
First Come - First Served
I decided to head to the hotel gift shop early today. Lately it has been a struggle to get there in time in order to procure a copy of IBD. As I headed towards the newsstand, another individual approached ahead of me from the opposite direction. We both looked at each other as what appeared to be only one copy of IBD remaining on the shelf. He got there first and grabbed it. To my good fortune, there was one last copy remaining. This has been the pattern throughout this vacation. The business newspapers sell out early.
Tuesday, August 13, 2002
Vacations as Planned
Judging from what I have seen at this island resort, you would never know that the economy has weakened. Just finished dinner at one of this island's largest hotels. The lobby was bustling with happy vacationers and Mary and I had to wait 15 minutes in order to get seated. I thought that was surprising given the fact that it was 7:30 when we arrived. Talked to hotel personnel about this summer season.
Thursday, August 8, 2002
An Absence of Explanations
It was another bizarre day for the financial markets. The market charts look more like a roller coaster with each passing day. Even the reporters on CNBC couldn't explain it. Floor traders seem puzzled by the familiar pattern of second half and final hour rallies in the stock market.
Wednesday, August 7, 2002
This morning's breeze came up early. It is going to be another day of relaxation and good conversation. Instead of my son who races sail boats, I've brought a retired friend. The boat won't have to be sailed on steroids. I'm over 50 and my friend is over 70, so we just decided to take it easy and enjoy the day. As I left the docks, the markets had gone from a 150 point opening gain to a 50-point loss -- a move of 200 points in the first hour and a half of trading. Mid-day I checked prices from my cell phone.
Tuesday, August 6, 2002
This summer's vacation will be a new experience for me. It will be the first time in 22 years that I will be taking a 2 week vacation. Up until now, all vacations have been 1 week -- too short and not long enough. This year I'm trying something different. Armed with technology, I've brought the world with me. A portable Bloomberg keeps me in touch with the financial markets around the globe.
© 2002 James Puplava