Bankruptcy

Oh and the Dow Falls, Again

By J. Michael McBride

“Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain.”

Here is a link to this article:
http://biz.yahoo.com/ap/081006/wall_street.html

If anyone is wondering, I have “suggested” (starting in January of 2007) that folks get out of everything stock wise, except limited amounts of inverse funds. You can look on the blog, using the search feature, for “inverse funds” and you will see some specific inverse funds listed. I suggest T Bills over money market funds, unless you find one which invests only in…T Bills. Now, today would be a poor day to sell, as the markets will have one day pop ups (and some will be large) when it would be a much better time to sell. Recall that during the Great Depression, there were several short periods where there were huge gains, so it is not a linear drop. But overall the markets will, I think, drop.

Michael

Full post as published by Texas Lawyer Blog on October 06, 2008 (boomark / email).