Do you mind if I make a personal comment to make a larger point?
Believe me, I do have a purpose here.
I'll never forget one of the saddest days of my life: my father's funeral.
A lot of important people were there. The heads of a lot of companies — including his own — and even a politician. They impressed me, both by coming and saying so many nice things about my dad.
But I'll never forget the other folks who came. Truck drivers and restaurant owners who knew my dad well and just wanted to pay their respects. Some literally came right from work. Hardly dressed for a wake or funeral, but hardly caring. Certainly I didn't.
They were the salt of the earth and the most decent folks you'd ever want to meet. Some gathered to say nice words. Others to say nothing at all. They said they'd set up a memorial and they did. They meant what they said, they said what they meant.
Little guys who stand for big things.
Just like little investors, who we're now told, did in fact buy stocks last week, while those big, important guys sat on their hands.
The folks at market research firm Birinyi Associates confirming what I already knew — that small trades under 10,000 shares were positive last week. Trades over 10,000 shares were negative — a lot negative.
Let me say that again: small investors were buying while big investors were selling.
Small investors bought what they could. Big investors sold pretty much all they could.
Both aimed to show their patriotism.
I'm not saying it's un-American to sell. But it is un-American to say you won't and you do. Some big guys did that. No small guy that I know of even considered that.
Proof that the little guy has a big heart and doesn't make light of something called "his word."
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