Just a quick followup to a recent post about Wall Street, because this is too good not to share.
I had lunch today with my wife at a place called Mongolian Barbecue in St. Louis. We finished our meal and cracked open our fortune cookies, and mine read as follows: "Don't worry about the stock market. Your investment is good."
So I have that going for me, which is nice.
Actually, we all have reason for a little optimism, according to this National Public Radio report. In it, Andy Kessler, a former analyst who now covers Wall Street as a reporter, says the Sept. 15 meltdown was ugly but not unprecedented -- and neither was the banking breakdown that sparked it.
"This happens every cycle," Kessler told NPR. "This is nothing new. I don't think we've entered a new era (similar to) the 1930s and the depression."
Kessler adds that this seems to be Wall Street's way of weeding out the badly managed companies.
Kessler's opinion and others like it might bring relief to anxious investors. Do you agree? Is this just a temporary bump in the road or an ominous sign of more pain to come?