Articles by: Kirk Spano
January 2, 2009
2008 Review: A Whale of a Year
Mortgage Related Securities, Credit Default Swaps (huh?), Leverage, Bank Failures, Stock Market Crash (grrrr), Bailouts, TARP, Bernie Madoff.
These are just a few of the things we got to hear about on the nightly news this year on an all too regular basis. It sounds horrible. And it has been. The vast majority of investors in the United States have lost money this year. Many folks, I have heard, are not even opening up their statements anymore. I suppose in a strange way that is good, because maybe they will wait for things to get better, rather than randomly selling assets (certainly some assets should be sold, but better investments should be bought in their place).
Read on to find out why things might not be so bad going forward. And remember, I’m the guy who has been cautiously pessimistic for the better part of a decade now, to the point where some of my colleagues call me a Perma-Bear (a name for somebody who thinks the markets won’t go up for a long time- like from 1999 to 2008).Read More