Maggie's Farm

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Friday, October 10. 2008

QQQ: Hours

"When I look at the wealth I have lost over the past two months, what I think about is the hours of work I put in to build it. That money, to me, is now lost time that, in retrospect, I could have spent better with my wife, family, and friends because my work is just a good job to pay the bills, and not a mission. My family is my mission."

A friend

Posted by The Barrister in Quotidian Quotable Quote (QQQ) at 09:44 | Comments (21) | Trackbacks (0)

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Get a job that's also your hobby.
#1 Ron Hardin (Link) on 2008-10-10 10:34 (Reply)
Mine is. His isn't, but he makes much more than I do.
#1.1 The B. on 2008-10-10 10:52 (Reply)
So, if markets fail to go up in perpetuity, the system has failed everyone? Give me a break.

I wonder, when his portfolio is in the black, does he write missives about all the time that the markets have given him and his family? Does he ever think about the quality of his life in comparison to those who lived only fifty years ago? Or, does he take it all for granted?

Free markets create incredible wealth, but they also create excess, that's part of the bargain. Stop whining. Don't forget who we are as a people. Be thankful for all the opportunities this system gives us.
#2 Art on 2008-10-10 10:52 (Reply)
Perspective: In '87, the market "broke" with a 20% dive in one day, Black Monday. That was a real jolt. It's taken 10 days to lose nearly 50% this time around so, which is worse psychologically? Just pray for the bottom today, a rebound, and a close up for the week-end to carry into next week.
#3 greenmtnpunter on 2008-10-10 11:07 (Reply)
Work at home if at all possible. (Oh, and invest only in canned goods and ammunition!)
#4 Pajak on 2008-10-10 11:25 (Reply)
If the Dow breifly touches zero it's a buying opportunity.
#5 Ron Hardin (Link) on 2008-10-10 11:26 (Reply)
Wealth cannot be lost when it didn't exist in the first place.

Yall bought into a lie and that is poverty that by the grace of God yall don't have to die in.

Good luck, yanks.
#6 Leag on 2008-10-10 11:30 (Reply)
As Clinton used to say, "I feel your pain," Barrister. But the investment and time and money is not permanently lost, as we found out during the last recession. Just sort of temporarily mislaid at the moment. If we all can just manage to remain calm for the next months, and not make any panic sales of assets, things should rectify themselves somewhat. Ask yourself this: is there any other country on the globe where you would rather be riding out this financial crisis?

Marianne
#7 Marianne Matthews on 2008-10-10 12:32 (Reply)
"Money is like the wind; you can only feel it when it's moving." -J.R. "Bob" Dobbs

And Leag is right - you certainly can't feel it when it hasn't been folded up and put in your pocket to begin with.

And if you DO have any left, buy land on which to store your canned goods and defend with your ammunition.
#8 Pajak on 2008-10-10 12:36 (Reply)
My husband just said, "I'm not buying, I'm not selling, I'm not dying, I'm not smelling .... I'm standing pat" -- whoever She is.

Marianne
#9 Marianne Matthews on 2008-10-10 12:47 (Reply)
Pap had finally piled up a whole bunch of money and he was ready to travel the world and meet his children. Then the cancer got him. As I drove him home from the hospital to die at home he said, "It's so beautiful outside today." I told him it has always been that way.

He sat in a lounge chair--I think so he would not go gentle into that good night--I held a pillow for him to lean on through the night. In the morning I whispered to him that I loved him and I told him I was tired. I laid down at his feet and he died before my head hit the floor. He had made a lot of money, but I'm the richer man.
#10 Jephnol (Link) on 2008-10-10 12:49 (Reply)
Jephnol - Today is the 7th anniversary of Dad's death by cancer. He, too, had just retired after working late into the night for forty years, and yes, a pile of money was made. He had plans to open a pub with my kid brother, while he and I were going to start a company inventing stuff that made life easier for rich people (that's about as far as our beer-soaked strategy sessions ever got!)

I had a very similar last few moments with Dad to what you describe... very similar. Thanks for sharing.

I used to talk to Dad a couple times a week. Now, I talk to him several times a day.
#10.1 Pajak on 2008-10-10 13:58 (Reply)
"I used to talk to Dad a couple times a week. Now, I talk to him several times a day."

Yeah... Isn't it funny how that happens? It's been twenty-years since dad died, and I still like to catch him up on things. It's strange how you can miss someone for the rest of your life.
#10.1.1 Jephnol (Link) on 2008-10-10 17:34 (Reply)
You can't change what is happening in the economy, but you have the power to change what is happening in your family.
#11 mal on 2008-10-10 13:21 (Reply)
"Can't you see what's going on? Potter isn't selling, he's buying" - Jimmy Stewart - "It's a Wonderful Life"

Always take your investment advice from Potter.
#12 Art on 2008-10-10 14:38 (Reply)
Working less to spend time with family...this ignores the fact that money & status are tremendously important to most women...if a guy cuts back on work to spend more time with his wife, he'll likely find that said wife is now constantly dissatisfied and angry with him, and will quite possibly leave him for someone more successful.

There ARE exeptions, but that's what they are..exceptions. At least in our society, one of the main social roles of women is holding male noses to the grindstone.
#13 jeff on 2008-10-10 14:56 (Reply)
Then the solution is to either marry an ugly woman or don't marry at all: I chose not to marry.
#13.1 njartist49 on 2008-10-10 15:18 (Reply)
Kool, me thinks i'll try the ugly one, then.

She does dust?

Doesn't she??
#13.1.1 Leag on 2008-10-12 15:27 (Reply)
Mr. B, health trumps wealth everytime. I hope you and your loved ones are fit as fiddles. Go get that cherry bomb mouth of yours fixed. I think you'll feel alot better. : )
#14 jappy on 2008-10-10 17:07 (Reply)
I pity the man with his priorities mixed up.

jr
#15 Jack Reacher on 2008-10-10 23:39 (Reply)
A friend - how much of your portfolio did sell over the last two months? That, and ONLY that, will tell you how much REAL wealth you have lost.

If you have NOT sold any of your portfolio you have NOT lost any real wealth - the PAPER value of of portfolio may have gone down. You will not lose REAL wealth until you sell at a lower price than what you paid.

Only two prices matter in ANY commercial transaction - the buying and selling price. ANY price other than than these two is a PAPER price and has NO effect on you REAL wealth.
#16 terrence on 2008-10-11 13:38 (Reply)

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