Markets possibly are entering the Bear Market territory.
Making a dime in a bear market? Not for the long term says this investment strategist. However he singles out one type of bear market fund that apparently does well when the market is up or down. Markets go up more years then they go down.
CNN reports on Bear Market possibility:
The S&P 500 index, which most market watchers follow instead of the Dow to determine the direction of the broad market, is now off 18.1% from its high of 1,562 points hit on October 10, 2007.
"It still doesn't mean a lot because the market's direction now remains a function of the economic backdrop," said Paul Nolte, director of investments at Hinsdale Associates.
"This a milestone along the way, not a destination," Nolte said of the likelihood the broad market will enter officially enter bear-market territory next week. "I would say it's only the beginning of the bear-market given that it's not unusual for the market to lose 30% or more in a recession," he said.
Comments
Post new comment