Suze Orman used to be a waitress at the coffee shop on the corner
where I lived in Berkeley. She picked up a lot of tips. (Not from me.)
Gene Coyle
On Sep 29, 2008, at 4:39 PM, michael a. lebowitz wrote:
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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