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What Could Go Wrong? The Answer Isn't Exactly Obvious - Barron’s

edited July 2021 in Other Investing
Ben Levisohn writing in this week’s Barron’s:

“Like Superman, the S&P 500 appears unstoppable … For the S&P 500, Friday’s close was its seventh high in row, the longest streak since 1997.

(Remember where you were or what you were doing back in 1997?)


  • In 1997 my stock walked around 200 acres baa-ing or naa-ing. I had 250 shares of baa and 50 shares naa. My “stock” broker would buy the sheep and goats at last Saturday’s auction price minus 4%. In 1983, I sent a dozen lambs to market and got $100 a piece, in 1999, I sent 100 lambs and got $37 a piece. Soon all I had left was dirt and debts which will be the title to my country and western song if I ever write the lyrics. Fortunately over time the dirt grew in value enough to cover the debts with a little left over to start a handyman business in town. I will always know those years, and yes, with fond memories.
  • Yes, in Columbus, Ohio. 1997 was the Emerging Market crisis in Asia followed by the shocking late night news report that Lady Diana was killed in an auto accident. Later, that fall OSU lost to Michigan for the third year in a row, putting Michigan in the Rose Bowl, and condemning Buckeye fans to another winter of discontent!
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