Verse For Market Watchers
Many in the financial news media, both TV and print, regularly use the expression "profit-taking" in reporting a dip in stock prices. Considering transaction costs, stock trading is at best a zero-sum game. One wonders then what is the appropriate term when prices rise. To those who wittingly or unwittingly aid and abet the brokerage industry, I dedicate these lines:
I'm told that when a stock price drops,
It's due to "profit taking."
Well, taking profit's really tops,
Since that means money-making.
Let's hope next time stock prices fall,
They do so most emphatically.
We'll make more money after all,
And do it automatically.
William F. Hummel
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