Markets don’t like risk. Or political, social and economic unrest. Or any threat of terrorism— be it perceived or real.
So here’s how I saw yesterday’s market activity: On Friday, January 6, right after 1 in the afternoon —-just as the champagne corks were about to pop and celebrations were about to begin on Wall Street as the DJIA was cozying up to the wildly anticipated 20,000 marker— another more important event was also going on: At the Ft. Lauderdale Airport in Florida, in the baggage claim area, one disturbed individual had taken out his gun and was shooting and killing innocents.
In case you may have forgotten, risk happens fast. Changes in the direction of the markets do too. And no matter if it’s the bulls or the bears that appear to be running Wall Street, what’s behind their strength are the social, economic and political risks of the day.
If there are lessons to be learned from January 6th’s horrible incident. let the first be about the realities of making money. And the more important second, a reminder of the frailties of life.