Up 400 + points. On even days, it drops 400, odd days, it goes up – an interesting market theory. I spent much of the late afternoon with a client and his wife (they’re both my clients, of course, but I can’t quite figure out how to make this sentence work otherwise) and I asked him how he, as a hedge funder, kept his sanity during this craziness. He smiled and said something like, “if you’ve positioned yourself properly ahead of time, it all works out”. And I must say, he was serene, his usual cheerful self and we were looking at some very, very expensive properties, so I absolutely believe him.
So some folks are losing their shirts during all this, but not all. That’s good news for home sellers and dumb Realtors.