Today's opening bell saw our financial markets take a serious fall and the Fed take emergency action for the first time since 9/11. Couple this with all the talk we've heard for months about the economy teetering on the verge of recession (if we're not already in one) and one could not be blamed for thinking that the sky may, in fact, be falling.
I get a little irritated by all the doom and gloom talk. Nobody in the media seems to cover the analysts that are saying that we're NOT heading for a crash landing. I guess negativism sells more papers and gets higher ratings but it also gets depressing and I eventually start tuning it out.
If you are curious, there are analysts out there that do believe that the extent of the problems we're seeing is being exagerated. Norman Fosback, editor of Fosback's Fund Forecaster, stated on Monday that the strength of the global economy should help keep this recession mild - if one even happens at all. If you're not familiar with Norman (I wasn't), he's been publishing forecasts with a high degree of accuracy since the mid-1970s.
Head to MarketWatch to read more about what Norman Fosback had to say about our current situation.
4 comments:
This morning, I took all available assets I have and BOUGHT the market. When a stampeed reachs its greatest intensity, that's the time to do the opposite.
Also took my Vanguard bond fund (which has jumped dramatically due to the recent "sky is falling" climate), and reallocated to stocks. Took a nice profit there and got the stock funds cheap!
I should add that "assets" still isn't very much for me, so it wasn't that ballsey of a decision.
I would also like the record to show that I in fact do know how to spell stampede and reaches. (If I sign up for a google account, will it let me edit posts?)
Probably - just give a dummy email address if you're one of those 'hate to sign up for stuff' people.
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