3 Things You Could Have Known 1 Year Ago
It’s a sign of hard-fought wisdom when you hear yourself say, ‘If only I knew then what I know now.’ In fact, many of us are saying to ourselves right now, ‘If only I knew a few months ago that the stock market would turn so bearish…’
Subscribers to Bob Prechter’s Elliott Wave Theorist often get the flip side of that feeling, as in, ‘Boy, am I glad I was prepared for what’s happening in the economy and the markets today.’ Let’s look at three examples taken from Bob’s Theorist of just over a year ago in September 2007, which he titled, Fasten Your Seat Belt. This is the best way I know to point out that those who got Bob’s message one year ago have been well prepared for the fiasco that the markets and the economy find themselves in now.
Excerpted from the September 2007 Elliott Wave Theorist by Bob Prechter
FASTEN YOUR SEAT BELT
1. ‘Investors should stay in the safest cash equivalents. There is a high probability that a financial crisis will expose weaknesses in overly leveraged banks. Make sure you are not one of the suckers who has lent them deposits. Real estate, stock shares, commodities, most bonds (corporate, municipal and mortgage) and even most bank CDs are likely to produce losses eventually…. I presume our readers took steps some time ago to protect their savings by keeping them in Treasury bills, Swiss money market claims, outright cash and as deposits in one or more of the perhaps dozen truly safe banks, money-market funds and insurance policies in the world, as instructed in Conquer the Crash. T-bills have outperformed the S&P 500 for the past seven years, and their relative performance is likely to soar in coming weeks and years, simply by not producing losses.’
To read the rest of this story get tomorrow’s financial news today. Don’t wait until it’s too late to do anything constructive about your finances. Get a free copy of Conquer the Crash when you subscribe now to Bob Prechter’s Elliott Wave Theorist by itself or as part of the Elliott Wave Financial Forecast.
Tags: marketforecast, stock market forecast, credit crisis, subprime crisis, financial crash, bailout, ellott wave forecast, technical stock market, wall street crash, deflation, real estate, stock shares, commodities, bonds, bank cds, swiss money
