I personally have a very low opinion of politicians, but once in a while I get surprised by candidness, which is usually not a quality most of them possess. Bloomberg featured a story called “Senator Bunning Says Paulson Acts Like Socialist, Should Resign.” Let’s listen in: Senator Jim Bunning said Treasury Secretary Henry Paulson, by rescuing Fannie Mae and Freddie …
Welcome To The United Socialist State Republic of America
In view of the government take-over of Fannie and Freddie, Nouriel Roubini wrote a timeless piece a couple of days ago titled “Comrades Bush, Paulson and Bernanke Welcome You to the USSRA (United Socialist State Republic of America)”. Here are some highlights: The now inevitable nationalization of Fannie and Freddie is the most radical regime change in global economic and …
No Load Fund/ETF Tracker updated through 9/11/2008
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpWild swings in the market led to only minor gains. Our Trend Tracking Index (TTI) for domestic funds/ETFs remains below its trend line (red) by -2.15% thereby confirming the current bear market trend. The international index now remains -9.07% below its own trend line, keeping us on the sidelines. For more …
One Man’s Pain
Lately, I have been receiving a lot of subscriber email wondering what to do with their invested positions. I personally find it hard to believe how some people subscribe to my free newsletter, which spells out exactly when to buy and sell, and then proceed to do the exact opposite.Even my constant nagging of using sell stops seems to simply …
Pop And Drop
As I suspected, the market did the old pop and drop over the past 2 days, and gave back all, and then some yesterday, of what was gained the day before. So much for the euphoria surrounding the Fannie/Freddie bailout announcement. Contributing greatly to the weakness in the financial sector was Lehman’s drop of 45% in share price value after …
The Mother Of All Bailouts
Euphoria reigned on Wall Street yesterday as a sharp opening rally gave way to a drop and a subsequent recovery, all caused by the government bailout plan of Fannie Mae and Freddie Mac. Over the next few days, when more details become known, the markets may react to the reality of what really happened. The government bailed out an institution …