Another reason to feel sanguine: after the two-week October rally, market indices and most balanced portfolios have climbed back to even for the year. For Apple investors like yours truly, our joy at being up 30% since December is not unadorned because of the death of the company's great and glorious founder. We await Tuesday's earnings call with both anticipation and trepidation.
The travails of the European Union were the prime reason for stocks' near-collapse over the summer. Last week's signs of cooperation among the major European powers, plus some reassuring noises from U.S. Treasury Secretary Geithner, seem to have stabilized markets. We are not out of the (Bretton) woods yet, but the euro's survival seems assured in the short term.
So enjoy the rest of this year. Next year, when the United States elects a President, promises to be exciting and not in a good way.
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