Strategy Lab: Now in 1st place
September 24, 2008 8:00 am
My MSN Strategy Lab Journal for September 24 – (My portfolio has taken the lead…for now – no time to get cocky as equities are still vulnerable)
Adding Microsoft (MSFT) and Goldman Preferreds (GS)
It has become painfully obvious that we, as a country, do not have a plan. I say this after spending 30 minutes watching congressional hearings in which Federal Reserve Chairman Ben Bernanke and Treasury Secretary Hank Paulson tried to combat an onslaught of questions with nonspecific and unsatisfactory answers.
(To be honest, I was at the dentist, and watching the hearings was worse than sitting in “the chair.”)
Several times, Bernanke provided answers for questions that were never asked in an attempt to buy some time and possibly confuse and confound his adversaries. It was tough to watch as he awkwardly tried to shake off a pack of pit-bull-like senators that would not loosen their bites.
Too bad Alan Greenspan wasn’t sitting in the hot seat, as he would have had an easy time twisting his words and throwing the audience off the trail.
It is also clear that Paulson and friends will not letfail. This is why I am adding a position of the undervalued Goldman preferred stock.
Read the full article HERE