No surprise in this story as MarketWatch reports that “Fed to lend billions more to AIG:” The Federal Reserve announced Wednesday it was lending billions of additional funds to cash-strapped American International Group Inc. Under the program, the New York Federal Reserve Bank will provide $37.8 billion in additional cash to certain domestic life insurance subsidiaries of AIG in return …
The Big Dog Didn’t Bark
Last Thursday was unusual in that there were no emergency moves by the U.S. government, which to some was the best news we’ve had in a week. It gets pretty tiring to repeatedly hear the barking about the constant attempts to stem the fall of the market, none of which have worked so far and none if them will work …
No Load Fund/ETF Tracker updated through 10/9/2008
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpAnother week in which buy-and-hope portfolios got slaughtered. Our Trend Tracking Index (TTI) for domestic funds/ETFs remains below its trend line (red) by -16.98% thereby confirming the current bear market trend. The international index now remains -25.71% below its own trend line, keeping us on the sidelines. For more details, and …
Global Show Of Force
Despite a concerted effort of the central banks around the world to lower interest rates on Wednesday, the markets popped and then dropped with Dow losing 189 points. The current losing streak has now been 6 days, and some of the major indexes are having their worst percentage loss this century. Here’s what the Fed said: Incoming economic data suggest …
Portfolio Killer
Another drubbing yesterday pushed the major indexes down to their lowest levels in some 5 years. The speed with which the markets have fallen surprised many and in the process destroyed just about all Buy-and Hold portfolios. As I have repeatedly said, investors need to lose some serious money before they will awaken to the fact that they have been …
Hitting The Skids
Yesterday, the markets tanked big time with the Dow being down some 800 points at one time before recovering. Even crude oil sinking below $90/barrel couldn’t offset the downdraft. This confirms my suspicion that no one entity or government is powerful enough to stem the global credit crisis, which was based on a built-up process of leveraging and accumulation of …