It’s time to leave 2008 behind. We’ve heard the sound bites in the news, seen the headlines and read predictions. Fortunately, that’s old news and we should look forward to 2009.
I believe there is reason to be optimistic. We have a new administration and a huge new stimulus/infrastructure plan that may benefit the economy. We have the Federal Reserve and the Treasury working to thaw the recently frozen credit markets. We have economists sensing the beginnings of a recovery later this year.
Stocks up 20% in 30 days. What? Was it some kind of statistical manipulation? On November 20, 2008 the S&P 500 closed at 752.44. It ended 2008 at 903.25. So the broad stock market gained 20% in less than 30 trading days at the end of 2008.
This doesn’t mean that it will continue, but it does mean that the American spirit has not abandoned the market or our way of life. I am hopeful for a recovery, but as in all things…we should expect the worst and hope for the best.
Wishing You Wealth in all its Greatest Forms,
Alex
No comments:
Post a Comment