October 2008 – A Month to Forget

November 3, 2008

Here is a look at how the major indices performed during the month of October:

And for those who are interested, here’s the year-to-date performance of those same indices:

The S&P SmallCap 600 Index is the best performer so far this year—it’s only down 27.20%!

It looks like 2008 is shaping up to be the year we’d all like to forget.

8 responses to October 2008 – A Month to Forget

  1. While I’m hoping for an upset tomorrow I’m not expecting it. So how do I go about shorting the market? I fully expect a dramatic drop tomorrow or Wednesday as the One claims his place at the head of the Ship of State.

  2. Jason,

    We’re in a heap of trouble if the dems clean up!

  3. But “the One” will solve all our problems…except, of course, for those making more than $250K. Perhaps unemployment will now increase as the 2nd working spouse may realize it just doesn’t pay to work anymore in this great country…perhaps many taxpayers would then be eligible to take the child tax credits, etc that get eliminated at higher AGIs…

    BTW, don’t you think his victory is already priced into the market/stocks?

    Another thought…along the lines of irrational exurberance…perhaps the euphoria of the masses will raise confidence levels, folks will start spending again, and we can all deceive ourselves into thinking things are ok…

  4. Stacey,

    Actually, his magic number is a heck of a lot less than $250,000. I have heard rumors of $125,000 to $150,000. We’re screwed! Sure, a family making $50,000 per year will think a family making $150,000 per year is rich—but I’m here to tell you it’s not.

  5. You’re singing to the choir, JLP! I know what “rich” is…always $50K more than where you’re currently at!!

    Guess we’ll just have to trust in God, wish our new President the best…and possibly sell any stocks that still have some gains by year-end!! Then we’ll start a new underground economy to still be able to afford some extras in life!! :)

  6. I’m around $80k for my family (my wife stays home) between my job and businesses. I must say, looking at the tax system, once you start hitting 100k, you’re no better off (IMO) than 80ish until you get to about 150. Also, the areas that pay 150 typically require higher cost of living, or huge time investment (commuting to city). Not worth it.

  7. In the last one hundred years, a republican president was in office during three out of four of the worst market meltdowns. The hysteria about democrats ruining the economy is unfounded and historically inaccurate.
    BTW: I’m not a democrat.

  8. Guess time will tell this time around. It’s not just who is the President; it’s also who’s in control of the legislative branch. The argument has also been made in the past about a lag factor, ie. the prosperity during the Clinton years had the groundwork laid during Bush Sr’s tenure, yada, yada, yada.