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Fear and Trembling; Madison Ave vs. Wall St./Main Street
October 21, 2008 /Are we living in unprecedented times of unsettling uncertainty? How have you been sleeping? How are your nerves? How's your portfolio? Talked to your broker lately? Are you too busy running for cover to worry about the future? In times like we've been told these are, it's far too easy to get caught up in the 'lemming tide', and allow emotions to rule the day. And, truth be told, as a member of an industry that is on the front page of multiple publications on a daily basis, and on the tongues of every breathing adult, it would be easy to succumb. There are days when I shake my head after a look at my latest 401k statement, and think it might be time to start investing in a bunker somewhere in Idaho. However, one small detail seems to get lost in all this: Fear is an emotion. It's not a reflection of reality, it has no place in financial decision making, but is simply a conditioned response to input. In caveman days, fear was the appropriate response to the toothy feline crouched on your path. With a few minor exceptions, we have evolved. Or at least we like to think we have.…Read more
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A Stake in the Game
October 14, 2008 /Speculation. It makes the world go 'round. The financial world, in particular. It's the bedrock of gambling, the essence of markets, and a human trait we just can't seem to shake. If the possibility of multiple outcomes exists, for any given activity, there will be at least two people willing to stake odds. An industry unto itself, gambling is the life's blood of many municipalities who rely on the ironically predictable nature of people to take a chance. 'Win some, lose some' is the fatalistic mantra of the veteran. Recent weeks have seen more of the downside of this reality than most are comfortable with. Especially those who had become accustomed to winning. Receiving the latest Mutual Fund statement is a painful reminder that stocks are, in fact, institutionalized gambling. When it's your retirement, it really hurts. When it's your home, well, that's personal. In reality, it's called 'investing' specifically because there's 'Risk'. If there wasn't risk, it would be a sure thing, and everybody knows there's no percentage in that. No percentage, no return. We all have to develop a personal comfort level with risk; Some climb mountains, others daytrade, and still others buy homes. Some do all three.…Read more
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Wine & Chocolate intersect at Pickett Street
October 2, 2008 /We just sent out the order for the postcard above, inviting friends and clients to Pickett Street's First Annual Customer Appreciation Event on Saturday, October 18th. Look for the postcard in your mailboxes within the next week (hopefully!), but until then, please use this post as an excuse to save the date. We’ll be holding court at Wicked Cellars in North Everett, hosting a tasting of an exclusive collection of wines from Maryhill Winery, all uniquely paired with handmade truffles from Buchanan Chocolates. Maryhill Winery will be conducting the regular Saturday tasting for Wicked Cellars (which you’re welcome to attend for $5), but will be saving a few exclusive offerings for our event, which will be held in the back room of the wine shop. Buchanan Chocolates will be preparing new truffles specifically for this event, and if initial responses are any indication, at least one of the new flavors is sure to be an instant success! This event is free to Pickett Street clients and friends. If you don't get a postcard, please accept our apologies and make plans to join us anyway. If you've ever bought or sold a home with us, then you've received a box of…Read more
