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Yesterday, as the stock markets faltered further, President Obama told the American public that now might just be the time to go in, "Buying stocks is a potentially good deal if you've got a long-term perspective on it," as he said his policies wouldn't be determined by "day-to-day gyrations of the stock market." The Daily News spoke to some New Yorkers to ask them what they thought of the President's suggestion: One woman said, "I'm not buying any stocks now. [My investments] are sitting in cash. I don't think we hit bottom yet," while another man was also wary, "I lost a lot of my retirement in the stock market." However, one person was bullish, "There are good stocks out there. There are fundamentally sound companies," but then he admitted, "I'm a financial adviser, so it means more business for me."
Mixed Reception for Obama's Stock Tips
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years of isiah thomas stories in chant form
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let them eat cake.. and drink some kool-ade too
sounds suspiciously like "go shopping" after 9/11
the disconnect transcends party lines
Of course there are good investments and great deals out there right now, I just don't know which ones are a good bet. Given that huge financial institutions have fallen, it's difficult to know what is safe and what is heading for the grave.
Tgirl,
The koolaid is fantastic. You really should try some.
There are no good deals out there when you think about where this is going. Only good ways to lose your hard-earned money.
Wait- I thought investors were the 'bad guys?'
NYCSniper,
You're right this isn't over, but that doesn't mean there aren't good long-term investments out there. Sure, you could buy a stock and it might good down as things get worse but then it could quickly rise when the market (eventually) recovers. It's difficult to guess the bottom of the market and once things start going up, well, you've missed the opportunity to buy cheap.
Mind you, this opinion comes from an optimist who believes in hope and happiness and rainbows (I voted for Obama. ;)
Well, Hope and 75¢ will get you a Snickers bar.
Actually, it's easy to calculate the market bottom.
Let's talk next year at this time.
NYCSniper,
As I said before, I agree we've got a ways to go before things get better. Many economists speculate that we will bottom out at the end of this year and I have no reason to disagree with that. What I am saying is that even if we bottom out at the end of the year, there are still some good buys right now. I've been buying and selling lately and actually got some great deals (and sold to collect the profit).
I love Snickers bars, btw.
Wasn't this a quote 'bam made while disrespecting the first visit from one of our closest allies?
Way to go Barry!
The stock market is story of like a tracking poll in politics. It bobs up and down day-to-day,“ Obama said. ”And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.“
“What you’re now seeing is a profit and earnings ratios get to the point that buying stocks is a good thing if you have a long-term perspective on it,” he said to reporters after meeting in the Oval Office with visiting British Prime Minister Gordon Brown.
Profit and Earnings Ratios? Is that what P/E is now? Way to inspire confidence Economist in Chief!
OF COURSE the President would tell us to invest. But is he going to bail us out when the companies we invest in go under?
I think there are great deals out there right now but the thing is that they might even get better. We all know the market isint bouncing back any time soon so everyone is playing the wait and see game...
Which is it, Barry?
Basically the only way you take investment advice from a politician is to find out what they are personally investing in and do the same for obvious reasons.
I will invest once the government stops raping my paycheck every 2 weeks. Until then I will store my money in my mattress. What is the long term impact on my paycheck after every other asshole is bailed out? Chances are my taxes will go up-which means I have less disposable income to invest in the giant ponzi scheme known as the stock market. Didn't George Bush want to tie Social Security to the stock market? Glad we dodged that bullet right?
We didn't dodge anything... The can was just kicked down the road.
Alot of these shifts in prices and markets dropping when the fed releases good news is mostly due to institutional and fund managers who have no clue what they're doing. Perhaps they feel like they don't have a productive day unless they dump or buy a lot of stock on any given day. They're too short sighted. It's times like these where the Buffetts are buying up; why would you buy when the market is good and prices are its peak ?
If you're an expert stock picker, you could have a field day but how many ordinary people put in the long hours researching 10K filings and getting to know the relevant debt maturities? There's a reason so many stocks are trading so low...because someone did do the homework and they didn't like what they saw. The best thing to do is watch the credit markets. When they come back to health, a huge basket of stocks will follow. It's a trader's market till 2010 at the very least.
Are we really supposed to take investment advice from a man who is yet to display any working knowledge of economics at even the most basic level?
I don't think so!
No, no. No one asked you to take investment advice from John McCain.
Social Security is a pyramid scheme. Older 'investors' are paid with money from newer 'investors' i.e older people are paid with money from younger people. Well, like any pyramid scheme, eventually you dont get enough new investors, there isnt enough new money to pay the current investors, and it all fails apart.
Invest in real hard assets (Gold, Silver, Copper etc.)
'the OBAMA' in the role of PRISSY in 'Gone-With-The-Wind'/HILLARY as naturally Miss SCARLETT
***scene - the evil economic wind swept through leaving millions injured/dead prostrate on stretchers awaiting carastrophe***
take 1 - action
'The OBAMA' as PRISSY crying, weeping:"Miss SCARLETT Ise dunno nothin about no STOCK MARKET."
HILLARY with her asbestos-pants-suits paid for by the Jews she has just sold-out slaps the uppity Negro house servant PRSISY in the face:"SHUT-UP FOOL. Just 'rig' the cattle-futures option's market with someone else's money like I did - and all of us 'insiders' will make bucks!!!"
***scene end - the destruction of 'free' capitalism in AMERIKA***
Posted by Jaimot's Jargon at 4:00 AM