Doug DavidoffHaving been a financial advisor, I've developed my own way of viewing the markets. While the volatility of late is certainly a cause for concern (and insanity), I've subscribed to the belief that one's focus should be on the trends, rather than the events and news. I've always said that as long as the trends support equity oriented investments, capital growth, risk taking and entrepreneurship, then the long run will take care of itself.
After sharing that philosophy, I'm often asked to give an example of a policy/trend that would go against this philosophy. The first example I give is when the government tries to buffer or prevent the failure of a business (or businesses) because they want to take the edge off creative destruction. What the government is talking about in terms of "saving Detriot" would be an example of that. I've been wrestling with why I don't think the recent financial "bailout" is an example, and an auto bailout would be. David Brooks, of the New York Times, provides an insightful answer - one well worth reading.