Your Web Site
I normally publish a performance review of global stock markets at the end of each month, but the meltdown around the world of the past few days necessitated an update. "If a man does not know what port he is steering for, no wind is favorable to him," said philosopher Seneca in 4 BC 65 AD. Why am I constantly reminded of this quote when looking at some of the rather haphazard actions taken by governments to alleviate the financial turmoil? And this quote du jour from Richard Russell's Dow Theory Letters of yesterday (spelt precisely the way it appeared in his newsletter): "Flash! Lowr;s reports trhat todayh was another 90% down-day, rhw rhird this week! Unbewlievable." The 84-year old R man usually has a calm demeanor, but was obviously flustered, like most of us, by the voracity of the bear. With global equities falling off... [read full story]
