Well, the TSX is down 900 points in three days and if you are internationally diversified and watching other stock markets, you are seeing that in times of crisis, positive correlation reigns, with the S&P 500 down, the FTSE down, the DAX down, the Hang Seng down and so on. The only positive note is that the Canadian dollar has been sliding too so the foreign holdings are not dropping quite as much in C$ terms as they would have with a constant exchange rate. That's a diversification value.
Along with the slide there is the predictable article that accompanies all bear markets - a piece on the CBC website that tells small retail investors like you and me not to panic and sell out. Hmm, most of my friends and family are too busy going to work, watching hockey games, helping kids with homework etc to do more than watch in puzzlement and helplessness as the indexes plummet. Could it possibly be someone else who is doing all the selling, possibly the big boys of the investment houses, the hedge funds, the pension plans who have the vast majority of the money in the market? In order to test this hypothesis I am launching another mini survey for my blog readers to see how many of us small investors are bailing out and how many are hanging tough. If you are reading this and have $100 million or more under your control, please don't answer as the survey results will get skewed and unscientific.