Monday, October 6, 2008
Update: DJIA Down 550 Points
Yes, it's a bloodbath today in the markets, but I am buying. In fact, I've spent more money today than I ever have, if you include my 401k purchases. As for individual stock picks, I bought GOOG, STT, YHOO, GE, and even some WYNN. Visa (V) looked interesting, too. Remember, Visa and Mastercard don't loan anyone money--they're just middlemen who get a transaction fee. In contrast, Discover and American Express have a more risky practice of loaning money themselves to certain customers or exposing some of their own assets to risk. I predict this recession will be over by May 2009, having started in December 2007. I hope to flip GOOG this week.