Interesting take on all this from Suze Orman, financial adviser on cnn
today [from the AC360 blog at cnn]:
As for portfolios, mutual funds, bonds and such ... there you're seeing
a situation where we're going down, down and down. If you have 10, 20,
30 years until you need the money and you invest in good quality stocks,
mutual funds, exchange traded funds, you have to continue to invest. You
have to continue every single month going into the investments that
you're in if they're good.
However, if you are older, and counting on this money (you need this
money for retirement) that is money that never should have been in the
stock market to begin with.
Your rule of thumb is money that you need within ten years is not money
that belongs in the stock market because of the deterioration we have
seen and will continue to see if they do not get their act together.
If you think this day was bad, what you may see if these people, the
administration, do not get their act together so to speak... you could
see another 2,000, 2500 points (lost).....
So when will the market and the economy turn around? How long is this
down cycle going to last? Probably two, three, four years. I don't want
to say what I'm about to say. I don't think you're going to see a lot of
light at the end of the tunnel until about the year 2015.
--
Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Director, Programme in 'Transformative Practice and Human Development'
Centro Internacional Miranda, P.H.
Residencias Anauco Suites, Parque Central, final Av. Bolivar
Caracas, Venezuela
fax: 0212 5768274/0212 5777231
http//:centrointernacionalmiranda.gob.ve
[EMAIL PROTECTED]
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