Happy 2009, folks! This missive will be short.
While we saw some market weakness the first trading of the week – mostly selling, I think, into the prices popped by the nice year-end rally we had – I think it remarkable how well prices held up in light of the horrible economic news that’s now tumbling. While there are doubtless many drops ahead, this is a very good sign, and symptomatic of the market’s leading-indicator nature, about which I have written much in this space.
Wall Street continues to crumble, with defections at banked-owned Merrill now becoming serious under BOA’s whip, and similar culture-crash issues emerging as Citi and Morgan Stanley approach the wedding chamber.
Finally, when it arrives, be sure to read Surviving the New Depression: An Investor’s Guide to Prosperity. Much may shock you, but the world is changing in serious ways and the current cash, guns, and gold mentality is a sure ticket to poverty on the “New Frontier.” This report will be sent to clients first, with statements in a week or so.
Don’t wait to call if you have any questions, either. Call or email us anytime.
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