Archive for July, 2009
The Preferred Strategy
July 2009 – Last March, the sky was actually falling. Home prices were cascading downward, layoffs were increasing at a dizzying rate, bank nationalization was imminent (if you believed the national news), and the US economy contracted at a 6 percent annualized rate. So it wasn’t surprising when, on March 9th, the stock market reached a recession low point – down more than 50 percent since its peak in October 2007. The worst decline since the Depression.