Rodent Regatta

It’s no more rational to cheer this jump in stock prices than it would be to cry about the last two weeks of losses. If, as I suspect, we’re facing a 10-year period beginning in 2000 where the stock market averages 7% or 8%, then we’re also facing many ups and downs to achieve that average. You won’t see anything like the 15% a month jumps that some companies experienced in the late 1990’s and early 2000. A rare, exceptional company may turn in some sort of outsized performance, but we’re going to have to love good old compound interest once again!

Stocks Bounce Back After Yesterday’s Selloff. Stocks rose after a strong profit report from Yahoo boosted sentiment a day after stocks closed at fresh multiyear lows. By Reuters. [New York Times: Business]