Lewis Carroll had it right. With the market's vorpal blades going snicker-snack, it's way too easy to see tragedy coming even on the brightest day. I envision my portfolio evaporating and my client base dwindling, and I can get quite deep into the drama of it all. Intransigent Greeks (no gifts forthcoming, apparently), idiot politicians (into which category nearly all US incumbents and wannabes now seem to fall), the falling dollar, increasing protectionism, European devolution -- we're not getting a lot of good economic news.
So, cock-eyed and contrary optimist that I am, I start to tally blessings. Resource companies continue to get funding, and the commodity markets are still holding. Gold stocks, especially for smaller entities, are undervalued and represent a real buying opportunity -- particularly with the Chinese starting to make gold property acquisitions offshore.
Technology innovation is strong in Canada, and start-ups are getting an unprecedented amount of government help to commercialize their products (just ask me!).
Even biotech is showing some signs of hope. The US seems to be working on developing a better relationship with China, one of the outcomes being Chinese agreement to help protect IP.
Never mind the market volatility -- pundits wiser than I suggest much of this is mechanical, or at least mathematical, and there is money to be made in the swings as well as in steady growth.
And Angela Merkel has made stocky women hotter than they've been since Peter Paul Rubens was mixing egg tempura.
So for now, we seem to be holding our own against the forces of chaos.
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