Market Poetry

The folks who made big money this year
Are the ones owning stuff we wouldn’t go near
Like Apple at 40 times net
That’s a valuation we just don’t get
Or Google with a price-to-sales of thirteen
We simply prefer when multiples are lean
And it’s quite right to have wondered
Is oil sustainable at one hundred?
Will Chinese demand grow forever?
That’s a bet we’d make never
So we’re just sticking to our value guns
And passing on stocks amidst silly runs
The willingness to weather a lackluster year
To the institutions will not you endear
(Even if it sets the stage
For great riches at a later age)
But, my friends, I say “take heart”
Volatility is to this game a part
The wealth will come, even if it’s lumpy
So what if our recent returns look grumpy?
Momentum, you’re having your day in the sun
We’ve lost this year’s battle, but the war will be won