Saturday, September 25, 2010

Financial advice

Theres an old story about Rockefeller in 1929, who was getting his shoes shined on the street. When the shoeshine boy advised him to buy certain stocks, Rockefeller called his broker and told him "SELL". His thinking was that when everyone is getting on board to buy stocks, the bubble is about to burst. Of course he was correct and the market crashed shortly thereafter. According to this article, we should be buying stocks now. But the best time would have been right after Obama's inauguration because since he has been in office the market has experienced a 2,700 point Obama Rally.
Why haven't we heard more about this? We sure as heck heard plenty about the "Obama Crash" from right-wingnuts in the first 2 months after he took office.

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