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Good Morning!
With most major equity indices having recently bottomed between 53% and 58% off their highs set October 9, 2007 investors are left with several related questions. Do they still have faith in the financial system of the United States as well as in our business and political leaders? If the answer is “yes” and you turn out being correct, then now is most likely one of the best opportunities of your lifetime. If the answer is “no,” then use the bounce that we are going to see today to get out. Please keep in mind that if you answer “no” and are wrong then your life will most likely be changed forever. The same could be said for those answering “yes.” However, the probabilities are with those individuals. It is with those that think that this is a deep recession, but one that America will climb out of and ultimately end up becoming more productive.
We will answer “yes,” not because we are patriotic or lemmings, but because we believe that the creativity of American business will ultimately prevail, albeit with additional justified regulatory hurdles to overcome.
Dennis Fagan
Chris Fagan