Obama the Stock Analyst
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March 4, 2009

 

*****Obama the Stock Analyst

*****24% Gains

 

Fellow investor,

 

President Obama said stocks look like a good buy here, if you have a long term perspective. Thanks for that, I feel much better now.

 

*****As much time as Fed Chief Bernanke spends before Congress, it’s amazing he gets any work done.

 

I have to say, I’m starting to like Bernanke. His forthright talk is certainly a refreshing change from Greenspan’s garbled speech. Yesterday, he expressed his feelings about all the bailouts. From Bloomberg:

 

“If there is a single episode in this entire 18 months that has made me more angry, I can’t think of one other than AIG,” Bernanke said. “AIG exploited a huge gap in the regulatory system, there was no oversight of the financial-products division, this was a hedge fund basically that was attached to a large and stable insurance company.”

 

AIG “made huge numbers of irresponsible bets, took huge losses, there was no regulatory oversight because there was a gap in the system,” Bernanke said. At the same time, officials “had no choice but to try and stabilize the system” by aiding the firm.

 

If I were former AIG CEO Hank Greenberg, I’d be nervous. And I think he is. He’s suing AIG for misrepresenting its health, even though he was CEO until 2005. And he’s suing to keep his testimony about the off-balance sheet mess that led to his dismissal by the Board of Directors.

 

*****Stocks are finally showing some life today. Let’s hope it holds.

 

*****The next Recovery Portfolio video conference is coming up on March 10, 2009 at 6:00 P.M. Eastern time with on-demand viewing for investors in central, mountain, and pacific time zones. We’re entering a trade that offers is highly likely to net 24%, and gives you 17% downside protection. You can register HERE

 

As always, I’d love to hear from you. Got any thoughts on “Obama the stock analyst”? An opinion on AIG? Or just want to catch up? Drop me a line at [email protected].

 

Ian Wyatt

Editor

Daily Profit

 





Posted 03-04-2009 10:19 AM by Ian Wyatt