All weekend long, I’ve been listening to Bing Crosby, Louie Armstrong, Michael Buble, and watching Jimmy Stewart, Natalie Wood, and of course Ralphie (you’ll shoot your eye out!). It’s been a “wonderful life” of fantasy, and with the massive snowstorm on Friday the winter wonderland was complete, and thus began my favorite time of the year – Christmas. I even watched Ebenezer trying to change my mood, but ultimately, he came around to my way of thinking. No Scrooge in this house.
Not to be totally diverted from my work, I spent several hours reading and listening to Barack Obama, Joe Biden, Caroline Kennedy, Nancy Pelosi, Ben Bernanke and Hank Paulson. I was looking for something from George Bush, but apparently he was out Christmas shopping.
What’s interesting is that both the entertainers and the politicians dealt with, or are dealing in, the same Christmas spirit. I call it fantasy. But that’s alright because the stock market wants fantasy. The markets are living on the fantasy of hope. In the short term, hope can be very powerful and could generously fill our stockings and put myriad presents under the tree.
Yes, Virginia, there is a Santa Claus, and Wall Street is hopeful the old gent will deliver. Unfortunately, Christmas comes but once a year, and eventually, we must turn from fantasy to reality. When that comes, Scrooge could have his way. However, we’ll take the fantasy until we must face the reality, and I’ll stay long the market, and enjoy the croonings of Louie and Bing, the bedtime stories of Ben and Hank, and the naiveté of Jimmy, Ralphie, Barack and Joe. Ho! Ho! Ho!
Wishing you and yours a very Merry Christmas and a Happy Holiday Season!
Till next time,
Bill
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