Irrational exuberance?

Back at the very start of this year’s baseball season, I posted an item to the blog examining my experiences as a Cubs fan and the prospects for the 2007 season, and wondering whether it might somehow be possible to insure against heartbreak.

Now, here we are several months on, and the Cubs have actually made themselves look like contenders in the National League’s Central Division. Well, at least until they actually moved into a tie for first place a couple of nights ago, since which time timely hitting seems to have been in short supply and a couple of our relief pitchers have offered ill-timed meltdowns.

This all comes, of course, as the Cubs approach the centennial of their 1908 World Series championship–the team’s last–and with its current owner, Tribune Co., preparing to sell the club at season’s end, possibly to an investor group led by private equity fund head John Canning and including, according to a story in yesterday’s Chicago Tribune, Aon Corp.’s Patrick G. Ryan.

But, as the Cubs and the team’s fans move toward the century mark of their title drought and anticipation mounts about who next will own the historic franchise, it’s August and the Cubs are at least making a show of being in contention. And, lo and behold, Kerry Wood was activated from the disabled list today, taking a relief pitching spot in the Cubs bullpen.

I’m actually pulling for the much injured Wood nearly as much as the Cubs themselves, and tire of those who make it sound as though his injury history and consequent failure to meet his early potential reflect some sort of personal character flaw. The New York Times ran a great piece on Wood, his injuries and his effort to make it back to the majors a couple of months back, and I would think even if you weren’t a Cub fan, reading it would prompt you to wish Kerry luck.

Anyway, aside from the Cubs’ thumping by the Mets today, which left the Cubs a half game behind the Milwaukee Brewers in the N.L. Central as I write this post, there seems to be reason for optimism on Chicago’s North Side. But experience tells me to guard against what former Fed Chairman Alan Greenspan would no doubt refer to as “irrational exuberance.”

So, is there any insurance industry connection in this post? It’s tenuous at best, I’ll admit. Good underwriting and risk management involve understanding experience and history, right? So with that in mind, I’m trying to do the best I can in managing my emotional exposure as this Cubs season moves forward, understanding from experience the risk I’m taking on.

  

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One Response to Irrational exuberance?

  1. gbrasil2 says:

    Nice! It very impressive. Well done. Best regards!

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