Stocks can dive in a day; and they can rise in a day
While most of us are cautiously holding back and keeping our money close to our chests, the almighty great investor, Warren Buffet, has stepped up like Santa Clause with a $5 billion investment to Goldman Sachs Group. Goldman was a firm that admirably did not report a loss from the credit crisis fallout; but this is a firm that Buffet admires – an admiration that began with Buffet was 10 when he visited the Goldman floor.
Although the market probably has not yet hit rock bottom, there are bargains to be found out there; the world markets have already fallen overall 27% from last year’s peak, according to the WSJ. You certainly wouldn’t invest money you need within the next five years there; but over the next five to ten years, you could make some gains. But only if you have the courage to do this; and are not one of those Nervous Nellies who keep checking and checking and worrying about what the stock is doing today, and what it did yesterday, and wondering what it will do tomorrow.
Here are a few places to start:Vanguard Total World Stock, Oakmark Global, Worldwide High Dividend Yield Value.
Buffet says congress must approve the bailout plan; although details must still be hashed out. This is the plan with a price tag that we wonder how much will affect our grocery budget (and our children’s future grocery budget).
It will be interesting to see who else with deep pockets will pull out cash to give the markets a boost. This is a fascinating time in our country’s history to watch how the wealth in our country has evolved to a point where a single citizen has deep enough reservoirs of cash to bail out long-standing reputable institutions we always thought of as secure and firm.
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ugh. i am just struggling to understand it all