Saturday, April 25, 2020

Day what? Week what? And wealth that never happened.

I imagine a lot of you are like me, stuck in this lockdown with the passing time smearing into a blur. Here in Colorado I think we're into week six or is it seven...eight?

To cope with the anxiety of the quarantine and the virus and the economy, I've been channeling my thoughts into a cartoon series called Cats In Quarantine.

You can follow the daily offerings on my Twitter feed, my Facebook page, or on Instagram.

But this economic meltdown did present an opportunity, of sorts. Earlier this week, when oil dropped to less than a dollar a barrel, I got the great idea of making lots and lots of money. I'd buy the oil now when it's dirt cheap and hang onto it until after the economy opens up. People will start driving. Airlines will be flying. The economy will be moving again, literally. When that happens, then oil will shoot back up to $40, $50, $60 a barrel. Buy low. Sell high. I'd be rich. Not Jeff Bezos rich but further ahead than where I am now. Then a friend with experience as a professional trader explained to me using short sentences and small words the folly of my plan. As background, if you looked at my bank account and my standard of living you'd see that my financial acumen is on the shy side of dazzling. Turns out that oil is a commodity and when you buy oil, you are buying an actual quantity of oil. You can't hang on to that oil for long unless you take physical possession. Which is why you have dudes scheming to lease tankers brimming with cheap oil and holding on to them until the price is right. There are instruments such as oil options, oil futures, oil EFTs, and others, and my friend cautioned that the road to financial ruin is paved with guys and their visions of easy money. And to underscore how perilous gambling on the stock market can be, the Wall Street Journal ran a brief article where US Senators - a class of people you'd think would have their thumb well positioned on the pulse of the financial world - have a worse track record than the regular investor. So my plans for quick bucks went poof!


Anna said...

Mario, too bad about the oil. I had the same idea, briefly, but knew about the "take possession" provision, and my front yard is much too small. Your cats are quite fetching, especially the novelist who daydreams about the book signing....but how did you capture my late lamented black cat who used to shred the toilet paper every chance he got? I had to buy a cage for it and post a note in the bathroom, to visitors, from the cat, mourning the loss of his favorite toy and complaining about the servant problem.

Mario Acevedo said...

Cats exist on a separate dimension. Their bodies just happen to be in ours.

Sybil Johnson said...

Love the cats.

Tanya said...

Your cat drawings are wonderful! Thanks for a much-needed laugh!