Monday, October 1, 2012

Stocks Open 4th Quarter with Squeamish Gains; Are Chestnuts Better as Investments?

First day of the quarter, so, considering all the rampant money-printing, stock had better show gains on the first day of the quarter, though, at the end of the day, the gains were marginal, except for the safety play on the Dow, which was the leading index by percentage.

Consider chestnuts. They never go up, but always fall from trees, encased in prickly husks to protect the fruits from predators, uninvited guests, birds and insects.

In our neck of the woods, chestnuts are ripe and ready for eating, falling from the trees like free gold from the sky. Makes one almost believe there's a God, or gods, watching over the planet.

Think about fruit and nut trees as opposed to stocks and bonds. They require little effort and return an annual dividend, which, unlike paper assets, can be eaten if need be. And, with age, the returns multiply.

Dow 13,515.11, +77.98(0.58%)
NASDAQ 3,113.53, +2.70 (0.09%)
S&P 500 1,444.49, +3.82(0.27%)
NYSE Composite 8,284.36, +33.36(0.40%)
NASDAQ Volume 1,761,352,630
NYSE Volume 3,478,999,000
Combined NYSE & NASDAQ Advance - Decline: 3280-2246
Combined NYSE & NASDAQ New highs - New lows: 346-41
WTI crude oil: 92.48, +0.29
Gold: 1,783.30, +9.40
Silver: 34.95, +0.38

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