My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpContinued worry about the survival of the banking system pulled the major indexes deeper into bear territory. Our Trend Tracking Index (TTI) for domestic funds/ETFs remains below its trend line (red) by -10.40% thereby confirming the current bear market trend. The international index now remains -20.43% below its own trend line, …
Another Fraudulent Scheme
MSN Money reported that another alleged fraud has taken place (sorry, no link): The Securities and Exchange Commission accused Robert Allen Stanford, chief of the Stanford Financial Group, a large Houston money-management firm, today of conducting “a massive ongoing fraud” in the sale of about $8 billion of high-yielding certificates of deposit held in the firm’s bank in Antigua. The …
Honing In On Last Year’s Lows
The markets took it on the chin yesterday with all major indexes heading sharply south and honing in on last November’s lows. Actually, the Dow came within 31 hundredth of a point of taking out the November 20th level. The November low of 752 of the S&P; 500 held up so far, but we have moved within striking distance. Causing …
7 Years Of Wealth Wiped Out
MarketWatch featured a story titled “Seven Years of Wealth Gone.” Here are some highlights: The nest egg of the typical American family is smaller now than it was seven years ago, according to Federal Reserve data released Thursday. The inflation-adjusted net worth of the typical family increased 17.7% to $120,300 from 2004 through 2007, the Fed said Thursday in its …
An Economic Reset
The last couple of days I talked about the long-term impact of last year’s market collapse. The dark side of the burst credit bubble will be with us for a long time and most people have no idea yet how their lives will be changed forever. Wishful thinking by the Fed and the government that we can continue with a …
Sunday Musings: Can’t Please All The People All Of The Time
It’s very rare that I get any comments on my blogging efforts in general and not just on specific articles. This week was different as reader Larry sent in this courteous critique: I have a lot of respect for you and your work and enjoy your weekly FREE letter, but lately I am losing interest in your blogs. I am …