It is impossible to know for sure. However, it is also nearly impossible to accurately predict the stock market's ups and downs, which is why individual investors are advised to have a well-diversified portfolio and work with a financial planner. Most reporters on the economy, myself included, did not fully understand the enormity of this financial disaster even as we watched it unfold.
What It Means to You
As I said in yesterday's blog, we may have seen the bottom of this bear market. However, no one will really know for a few months, at least. The Dow must retest the March 5 bottom and make a higher low.
If you like, watch CNBC and other TV news for entertainment. Watch it if you are a day-trader, and enjoy a high risk environment. However, for real money management, play it safe. Follow long-term economic trends by watching economic indicators. Get a well-diversified portfolio, which research shows performs better over the long haul. Work with a financial planner whom you trust - not any single TV show host or commentator.
Comments
The point Stewart is trying to make is that the news being reported by major media outlets is garbage. They simply repeat what they are told without any research, analysis or investigation. He did it before during the lead-up to the Iraq war and he’s doing it again. And the fact that the vast majority of the media outlets is covering it as some kind of boxing match between Stewart and Cramer, instead of an indictment of their competence, just proves the point that the news media doesn’t get the point anymore.