Friday, September 19, 2008

New Game, New Rules

Earlier this week, I was thinking about what might qualify as the five most important events in my lifetime. I came up with the following list, which perhaps reflects my personal perspective on the world more than anything else:

  1. Cuban Missile Crisis (I was born a little after JFK was inaugurated, so I can’t go back much further in time than this)
  2. 9/11
  3. Passage of the Civil Rights Act
  4. Falling of the Berlin Wall / Breakup of Soviet Union
  5. Nixon’s Resignation / Watergate

Not quite making the cut were the first moon landing and moon walk, the creation of the internet, and various other advances in science and technology.

I had wondered if the events of this week would make it on that list. While it is too early to tell, my initial gut reaction is that if the financial markets had a constitution, we have essentially just ripped it up and declared martial law. Things may meander back toward the way they used to be, but I don’t think the markets will ever be the same going forward, given what has just transpired, regardless of what the consequences turn out to be.

Many have written eloquently about recent events, but there are three posts from this morning that I wish to highlight:


DISCLAIMER: "VIX®" is a trademark of Chicago Board Options Exchange, Incorporated. Chicago Board Options Exchange, Incorporated is not affiliated with this website or this website's owner's or operators. CBOE assumes no responsibility for the accuracy or completeness or any other aspect of any content posted on this website by its operator or any third party. All content on this site is provided for informational and entertainment purposes only and is not intended as advice to buy or sell any securities. Stocks are difficult to trade; options are even harder. When it comes to VIX derivatives, don't fall into the trap of thinking that just because you can ride a horse, you can ride an alligator. Please do your own homework and accept full responsibility for any investment decisions you make. No content on this site can be used for commercial purposes without the prior written permission of the author. Copyright © 2007-2023 Bill Luby. All rights reserved.
Web Analytics