Saturday, September 20, 2008

A fairly straightforward (and sobering) explanation of the financial crisis

Here.

Another thought, that my boss mentioned yesterday, is that owning stock right now may not be such a bad idea after all. Even during the Depression, if you owned a piece of a company that stayed in business, you owned an actual asset that will maintain some value as long as the business is viable. And will recover value when the economy evenutally bounces back. Cash or bonds (government or corporate) may not be worth much more than paper or pixels.

It may be a rough ride.

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