I'm Not Buying

More

Everybody knows that the investment decisions of the average doofus like me are a reliable contrarian indicator, so start shopping for stocks, because the point of this particular post is, as the headline has it, that I'm not buyin'. I say this from the cool penumbra of my last big investment decision, which was to sell every goddamned thing we had, short of the kids and the cats, last spring. It's silly to expect that i'll get so lucky a second time, so I ought to just resume the usual pious agnosticism about not being able to time markets, indexing, etc.

Nonetheless, I'm not buying. I can't figure out what's going on, I don't understand how all these banks could be simultaneously so broke and so profitable, I'm not impressed that the *rate* of deterioration has slowed (I was absent the day they did second-order derivatives in school) and anyway a hard-core unemployable like your correspondent has no business taking on much risk. TIPS and hi-grade corporates and CDs have been very very good to me. I'm especially flummoxed by the REIT run-up. I always liked REITs but commercial real estate looks ugly. Insiders, i might add, are selling with both hands in a variety of sectors.

As I said, make up a shopping list. People like me point reliably in the wrong direction.

Jump to comments
Presented by

Daniel Akst

Dan Akst is a journalist, essayist and novelist who wrote three books. His novel, The Webster Chronicle, is based on the lives of Cotton and Increase Mather. More

Dan Akst is a journalist, novelist and essayist whose work has appeared frequently in The New York Times, The Wall Street Journal, The Boston Globe, Wilson Quarterly, and many other publications.
Get Today's Top Stories in Your Inbox (preview)

A Technicolor Time-Lapse of Alaska's Northern Lights

The beauty of aurora borealis, as seen from America's last frontier


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

A Time-Lapse of Alaska's Northern Lights

The beauty of aurora borealis, as seen from America's last frontier

Video

What Do You Wish You Learned in College?

Ivy League academics reveal their undergrad regrets

Video

Famous Movies, Reimagined

From Apocalypse Now to The Lord of the Rings, this clever video puts a new spin on Hollywood's greatest hits.

Video

What Is a City?

Cities are like nothing else on Earth.

Video

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity

Video

In Online Dating, Everyone's a Little Bit Racist

The co-founder of OKCupid shares findings from his analysis of millions of users' data.

Writers

Up
Down

More in Business

Just In