Talk

The religious equity market

A conversation with a friend this afternoon meandered into the world of equity markets. He expressed dismay at the nadir being skirted by a certain company and stated the opinion that he didnt reserve any hope that the stock would rebound. I retorted "have faith". Hardly had the words escaped my lips that the implication of my words dawned upon my impressionable mind. I mused that my suggestion was almost religious sounding. He replied that when choosing the place to put his faith he would go with God over the stock market. I noted that while we knew the stock market existed the same could not be categorically be said about God.

A few hours later it dawns upon me that the stock market and religion are similar in more ways than one. The stock market requires investment of cash/money. The religious market requires investment of time, perseverence and above all belief. Why do we play the markets? The stock markets because we expect returns on our investment. Our returns are usually increase in stock value and profits from sales of stock. The religious markets guarantee us bounties in the after life. Every now and then snake oil salesmen roll into town and offer us newer religions into which to invest our souls. Yes, very much like the dot-coms that pronounced the old old economy subservient to the new new new economy (or some repetition of new thereof).

Then there are some of us that dont play in that market!