So tonight they're all talking about how to get back into the stock market and making sure we "diversify". One piece of advice is to buy indexed funds, i.e. to the S&P or Nasdaq. Hello? If anyone happened to notice lately, the entire planet of investors got creamed regardless of what index or diversification strategy was used. The only guy I know that made out okay was my younger brother who for years was too lazy to get a financial advisor and ended up putting it all in GICs and cash.
Velshi ends the segment by plugging his new book, twice. What kind of journalistic conflict of interest crap is that about? Don't even get me started on Larry King or Anderson Cooper.
On a side note, I heard from some folks living in the US that they received a couple of stimulus cheques in the mail from Uncle Sam. Around $1,200 bucks tax free, more expected. What a great country the US of A is, free money. I'm sure iPods and t-shirts that will be purchased with these cheques is really going to pull them out.
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2 comments:
Hi Wallace
Long time no speak. Not sure what I did to annoy you in grade 12 math, but i apologize. You might want to move beyond it, though. There's a lot going on in the financial world in if you can't get by whatever happened more than 15 years ago, you might miss some of what's happening now. And given your comments about the wisdom of GIC's, you might want to read my book. Seems you're one of those guys who's smarter than the markets.
Good to reconnect. Stay well.
Ali
Nice surprise!
Nothing personal back then, I think it was really more of your "maroon shoes" political platform that was most annoying. I hope you remember that :-)
There are a lot of voices in the media giving financial advice/opinions. Weather they are justifying the Bailout, predicting price of oil or calling the "bottom", after what's happened in the past 6 months I gotta look at it from all angles not just what's good for big business.
Glad to see you are doing well, keep up the passion.
Wallace
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