The Monotony of Abundance

I know, it seems monotonous.

But it is a blessed monotony. As we sit here and watch the America Onlines (AOL Quote) and the Yahoo!s (YHOO Quote) and the Oracles (ORCL Quote) and the Nortels (NT Quote) do things that everybody told us they couldn't do, we must remember that we are in a very special, highly unusual time.

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Everyone who ever taught me, and everybody I ever read (with the exception of William O'Neil), basically said that what is happening can't and will never occur. We had been led to believe by the "wise ones" that going long common stock has far more risk and is far more dangerous than other forms of investing.

We had been schooled to believe that in the end we all had to lose and the only ones who could make money over the long term were based in Omaha or Boston.

Along the way people tried to get us to buy gold. People fretted about the price of oil. They wrung their hands about the prices of uncoated free sheet, and liner board and copper and polyester and soybeans and oats and land and beach homes and apartments and cars. They told us to beware that when the music stops it will all be taken away, perhaps in wheelbarrows of dollars and perhaps by the tax man or maybe, just maybe, by a kodiak bear that would come mauling.

Let's say they are right. If you hung in and on this long, you could sell everything right now -- and with the exception of maybe 1,000 people -- you could get a darn good price. Right now. This moment. And you would forever prove the naysayers wrong.

So the next time a bear tells you that you will lose it all, you tell him that you lived through this precious moment and you know better. You know that, at least in this one era, things simply happened for the best. What had to go right, did go right. And the monotony of abundance can and does occur in this stock market.