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Buy the Titanic and Double Down on the Hindenburg
Last week, I suggested you ignore Washington and "the bailout," and do what great investors such as Warren Buffett do in times of crisis – buy stocks.
Based on reader response, you would have thought I recommended investing in the Titanic, and doubling down on the Hindenburg. My email inbox was full of remarks from people who thought I had lost my mind.
"There are idiots out there saying [the credit crisis is] ‘no problem’…you know who they are!!!"
I think he means me…
But this kind of reaction isn’t out of the ordinary. In times of intense fear – such as this week…
2Oct2008 | Investment U | Comments Off | ContinuedThe Government’s Financial Crisis Fix-it Plan Sends Stocks Soaring, Though Some Argue There’s no Quick Fix for this Disaster
U.S. stocks rallied the most in six years yesterday (Thursday) – with traders actually cheering the ticker action from the floor of the New York Stock Exchange – on the news that the federal government is taking steps to shore up the unraveling U.S. financial system and end the global credit crisis.
After two straight days of sharp selling, U.S. stocks whipsawed their way to major gains yesterday on investor hopes that federal government moves will halt a global credit crisis so severe that some leading market experts are talking about a depression-like downturn. The blue-chip Dow Jones Industrial Average jumped…
19Sep2008 | Money Morning | Comments Off | Continued
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