Ben Bernanke testified twice on Capitol Hill this week. "We are facing a situation where we have simultaneously a slowdown in the economy, stresses in financial markets and inflation pressure coming from commodity prices abroad," he said. "Each of these things represents a challenge."
A challenge indeed. One day in the future, Gentle Ben will be considered a hero, or a goat. He does not have an easy job.
Well, I suppose we here at AllStarInvestor.com don't have an easy job either. We are judged on a daily, if not minute by minute basis. How come? The stock market is nearly a 24-7 occupation.
The scoreboard changes moment by moment. It's a unique system, where you know exactly where you stand, good or bad, each waking moment of the day. There is no where to hide. That is why we love this business! We are held accountable. Every action and reaction is scrutinized.
We strive to make a difference each day. Think about it: The capital markets offer the wonderful ability to make a big impact on the lives of others. Of course, you have to wonder how the folks at mortgage related firms, banks, and other financial institutions view their role in the recession we have and how accountable they feel to their constituents.
Ben Bernanke shoulders a heavy burden and will have a say in how our economy does over the next 5 to 10 years. High inflation, slow growth, the U.S. dollar declining, a credit crisis, financial institutions going bankrupt....it's a mess out there, and Bernanke must guide the super tanker that is the U.S of A through the turmoil. We wish him luck. In the meantime, we'll attempt to point our portfolios in the right direction.
The three securities we featured the other day are solid long term ideas. You don't have to sweat the day to day noise of the stock market, and you can seek to achieve the equity return over time. Sometimes that is the best course of action. Why get caught up in the 24x7 zigging and zagging of the global capital markets?
Good Luck.
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