The Economy: What?

by Arturo Sundvold

Editor-in-Chief, the Daily Balance

My stock broker and I were sharing a laugh the other day while drinking some yummy office coffee.

"Do you believe these analysts?" I said, while we were watching Bloomberg Market Watch.

"Unbelievable. You would think the sky was falling!"

"Please, the economy's great. There's NEVER been a better time to invest, in my opinion."

"You're right, Art," my broker said, as he sipped from his Invest to Win mug.

Of course I'm right. What better time to get into the market than now, when so many great companies are at rock-bottom bargains?

The problem with today's talking-head-analyst is they have NO PERSPECTIVE. Don't they realize the stock market was under 1,000 just 30 years ago?! Where have they been?

Oh, I'm sorry -- they weren't born yet and nothing happened, as far as THEY'RE concerned, before 1990.

What a joke.

My stock broker shared an interesting tidbit with me: "You know, Art, back in the 70's, the analysts were predicting the Dow Jones would reach 1,000 points by the new millennium. Boy, were they wrong!

"Even the most bullish analysts only thought the market would hit 3,000 by the year 2000! Those analysts were way off in there predictions, and they still are!"

I couldn't have said it better myself. The Market is fine. Buy now, and you'll thank yourself in 30 years, just like I'm thanking myself now.