I appreciated this reflection from Dave on the stock market today:

Thoughts about the stock market. I rarely make predictions, at least in public. Last November I had all my liquid assets in stocks, and I sold them, turning them into cash, in US dollars, locking in some substantial losses. At first, it was not a good decision, but in the last few weeks I’ve come to appreciate it. I saved a lot of money. Today I had a flash that the market is at or near its bottom now. I don’t think it’s going to go up very quickly, but I think the precipitous fall is over. We’ve factored in the lack of trust of management of companies. Greenspan’s comments, referenced below, really made a difference to me. From this point we’ll get much better information about how the companies are doing. Stock options are over. Salaries and benefits matter. Transparent management. Time to ride the Cluetrain, for real. Companies that make identifiable products for real people that they communicate with. And responsibility among shareholders and customers and journalists, as well. [Scripting News]

It makes sense, and I hope he’s right about all of it.