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Assessing the Stock Market
By Laura Knoy on Monday, July 6, 2009.
Our monthly economic series continues with a look at the financial markets. The end of June brought good news: the biggest quarterly jump for the Dow in years! The bad news, though, is the starting point of that jump was in the basement and consumer confidence has not risen with the stock market. We’ll see what’s driving the financial markets and look at their connection to the lives of ordinary Americans.
Guests
- Russ Thibeault, President of Applied Economic Research in Laconia
- Brian Beaulieu, Executive Director of the Institute for Trend Research
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Mr. Beaulieu is best to leave his rhetoric at home while he is a guest on the exchange. He has NO CLUE how the stock market is going to perform over the next 25 years. His comments about "run away spending" also have strong political undertones. Where was the outrage when we were spending like drunken sailors for the last 8 years? The difference between recent government spending (to that of the past) is that we're spending money on the American people, and not foreigners. It's an investment in us.
I agree with E. Abrams.
I'll go further and say that the talk about how broad based index funds are a road to retiring poor is misleading at best. At worst, it sends people to investment "advisors" telling the public which stocks or ETFs to pick. And from this pontification, the advisors make money.
Broad based index fund and index-based ETFs are low cost, tax efficient, and eliminate the risk that the advisors will make a mistake that lands you in the poorhouse.
Think of it this way - in the stock market, for every buyer there is a seller. So 50% of the time an investment advisor is wrong. Can you be sure yours will be right?