A long overdue market rebound generated euphoria on Monday, as governments around the world pledged to inject new capital (with no limits) into banks and financial institutions in an effort to ease the credit crunch. Market reaction to the upside was fast and furious as the graph on the left shows. Take a look at the numbers, as this may …
Stupid Quote Of The Week
I was waiting for it to happen. Whenever bear markets strike, buy-and-hold proponents come out and tout the wisdom of their ways. Leading the pack as usual is Jack Bogle, founder of Vanguard who had this to say: “If you’re following the rules of asset allocation, diversification and long-term horizon, stay the course.” Sure, along that long-term horizon, we will …
Sunday Musings: Back To The Cookie Jar
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 …