Thursday, September 18, 2008
Financial Crisis Looms Over Us All
Despite the late surge today, I believe we have not reached bottom yet, and we will witness a meltdown of cosmic proportions in the stock market.
I have made most of my preparations to defend my portfolio, including shedding every stock I had in the financial, retail, tech, and commercial construction sectors, and shifting to EFTs as a hedge as well.
Fully a third of my cash equivalents are now in gold securities, and I am arranging to buy bullion for a part of my holdings as well.
If I miss out on a huge uptick, so be it. I do not believe we will see such a thing for a long while.
So, I wish everyone success in protecting their assets, and in sliding through this recession successfully.
Labels: Money Matters