Washington Post,November 30, 2008 on page F2:
Tom Sowanick, chief investment oficer at Clearbrook Financial, an investment management firm in Princeton,New Jersey, the noise masks what he believes is a positive trend that has emerged over the past month or so. He finds the good news not so much in the US-but overseas. What is happening on exchanges in China, Brazil and Russia, he says has significant ramifications for investors here. In China, the CSI 300 indes is up about 17% from Nov.4, whidh Sowanick says could be its bottom.
Why is this important for the US market? In Sowanick's view, the gains on the emerging markets suggest that global investors are regaining an appetite for risk for emerging markets. Moreover,China's own giant stimulus package has helpted, along with the emergency rescues and transfusions from the US Treasury Department. --Steven E. Levingston.
Best luck to Mr. Sowanick for his positive scenario. However,I would maintain the judgment for the upcoming empirical evidence.
A new book to be highly recommended: "ENOUGH" By John C. Bogle. John Wiley & Sons. 2009 $24.95 ISBN: 978-0-470-39851-7
The subheading is: True measures of money,business, and life
The book provokes so much thought and gives new meaning to the words 'commitment,accountability, and stewardess.
"It is a must reading for investors disenchanted by today's culture of greed, accounting distortion and corporate malfeasance and oversight failure."-- Arthur Levitt,Former Chairman,United States Security and Exchange Commission.
On page 31: "We are merely trading pieces of papers, swapping stocks and bonds back and forth with one another and paying our financial croupiers a veritable fortune, adding more costs by creating more complex financial derivatives in which huge and unfathomable risks have been built into the financial system." Such may be the insights for global financial crises.
Francis Shieh a.k.a. Xie Shihao with the motto: "Live and Learn the increasing knowledge of Sino-American Economics to make life more worth living with complexity."
Sunday,November 30, 2008 at 2.08 p.m.
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