Word: droughts
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...grim Noachian predictions. For example, Jan Null of the National Weather Service in Monterey, Calif., points out that in the eight heaviest El Nino years, California experienced on average only about a one-third increase in rainfall. In fact, two of these years, 1965 and 1991, brought drought...
...stocks, the risks are acute because you have less time. Minuscule returns over a long period could mean that you won't have as much money in retirement as you thought, or that you'll have to work longer, and if you need money during the worst of the drought, you'll have to sell at the bottom. A serious market dive of 40% could sap consumer confidence and bring on a recession, always tough on those who have been taking on debt...
...true Nirvana, it must be permanent. Buy-and-hold means buy and hold a diverse portfolio through thick and thin. But where money is concerned, the age-old forces of greed and fear will always rule. Most investors won't stick with their stocks through years of drought any more than baseball fans will keep filling the stadium for a last-place team. And that's the risk...
Miami, and the entire South Florida area, currently has the longest drought of professional sports championships in the country. Not since the Miami Dolphins won their second consecutive Super Bowl in 1973 has the city had cause to celebrate a title in any of the four major pro sports...
...Panthers made it to the Stanley Cup Finals two years ago before the Colorado Avalanche made quick work of them in a sweep (ironically, ending Denver's drought of pro sports titles which had been the nation's longest). Last season, the Heat emerged from virtual anonymity under Pat Riley and made it all the way to the Eastern Conference Finals where it ran into a juggernaut known as the Chicago Bulls...