NOVEMBER 2008

Hi all! Well it's July and the market seems to be as sizzling as the temperatures! With oil flirting with $60/bbl and hurricanes threatening Gulf Coast refining capacity, it's no wonder! This month I was hoping we could exchange some knowledge about industry information sources.

"The nation has entered the most severe recession since the Great Depression."

"People are running scared from stocks."

"We're just waiting for the bloodbath."

"The market is in a Selling Panic."

"Fears of a worldwide Economic Meltdown abound."

Sound familiar? Well guess what? These are not headlines from this year, 2008; the first four are from the Recession of 1982. If you remember back then, we had a time of sky-high interest rates (20% or more!) and over 10% unemployment. And the last one? It's from the Asian Financial Crisis in 1997. Every time there's a fear of an "economic meltdown" pundits say that the world as we know it will end. So, what should we take away from this?

As the philosopher Hegel said: "We learn from history that we never learn anything from history." Every time we've had a market crisis, within two years things have rebounded and some smart group of folks have gotten rich! After every major recession comes a major recovery! This fear has come before! The two-year recession is gone. Everything moves faster today and nothing takes as long as it once did! In talking to folks all around the country, the common rule of thumb is the turnaround will be six to nine months!

Companies will always hire really great people. So keep your head down, do the basics, focus on doing your very best, and invest wisely! And PLEASE VOTE! Regardless of your political leanings, remember that people have fought and died for you to have this privilege.