Well my “Great Recession” portfolio has now doubled in value. Meanwhile I read one stock market “analyst” who said that this is a silly season for the markets with people buying financial shares that are either overvalued or have no value. He went on to point out the “silliest” strocks to buy. You guessed it, he named the main ones in my portfolio - BankAmerca, Citibank,Fannie Mae and Freddie Mac. So you pay your money and take your choice. I remain with the rapidly recovering financial shares.
About Your Money: In the New Economy
The financial crisis of 2008 has ushered in a new facet of the “New Economy.” Whatever you say about the origins and course of this financial crisis, this new dramatic development will be a major influence in our economic future. I will discuss the financial crisis and where it has led us. I will then look at how this “New Economy” will affect your job prospects, investment strategies, retirement plans, personal finance. We are in an entirely new phase of our economic progress reinforced by a new administration coming into office. It will be exciting to some and of concern to others. But we all must understand it and use it to our advantage. — Leo Cecchini (Ethiopia 1962–64)
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