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How to Prosper in the Midst of a Growing Financial CrisisBy
Thursday, June 26, 2008
Much to the annoyance of the staff who share the ground floor of our Baltimore office with me, when the stock market has a particularly bad day, I launch iTunes on my computer and play the disco-era hit Stayin' Alive at high volume. But... as I wrote in this DailyWealth article three months ago, the world's best investors actually look forward to bear markets, markets like the one we are experiencing this year. And after 12 years as an investment analyst, I've learned a very important lesson. Looking at this portfolio, it's hard to imagine a higher-quality mix of stocks – and most of them are trading at once-in-a-decade low prices. Without the terrible problems in the mortgage and finance sectors, these values wouldn't be available. And that's why, despite the risk to the market overall, I don't think you should let this bear market scare you. Instead, I recommend you use it to put your cash to work. Good investing, Porter Stansberry
Further Reading:
Time for the Famous Nifty Fifty to Soar Again? Market NotesTHE WORST SECTOR IN AMERICA This week's biggest stock market winners are the same winners we've been writing about for a long time: Halliburton and National Oilwell Varco – the "oil services." But how about the stock market's "biggest loser"? Well, you'd be hard-pressed to find a bigger one than the "fat boys" of the interstate – recreational vehicles. Take Winnebago... Like a lot of "landfill stuffers," Winnebago has been hit with a perfect storm of high energy prices, a weak economy, and contracting consumer credit. Sales fell 40% in the most recent quarter, and shares have collapsed. If there is an uglier downtrend in the market, we haven't found it. |
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