A few days after Jon Stewart vs. Cramer


It’s had a few days to sink in now.  I’ve had this nagging feeling, since watching the episode, that Jons rage was a bit misplaced.  I’ve finally figured out why.  In my opinion, his expectations for a 24 hour news station are too high.

His point was that a financial news network should have been doing more investigative reporting leading up to this recession.  I agree that should be true.  However, maybe I’m being too cynical, but these days who actually still believes a network news broadcast has their own best interests in mind?  Did any of the news networks ensure we knew the truth leading up to the Iraq war?  Did the mainstream media discuss the bulk of Bush’s shenanigans?  Was it in my best interest to hear about Monica Lewinski and OJ 24 hours a day?

Further, if you’re hoping to stay on top of the financial system by watching a guy who punches a board to make funny noises, you’re going to have big problems.

Have we hit the bottom yet?

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Many of these graphs would tend to indicate “No”: February Economic Summary in Graphs

Here’s a more optimistic view: 7 Signs of an Economic Bottom

Personally, I think we’re getting close.  I’ll wait to see a month or two of holding price levels or positive movement before starting to enter the market.  I don’t care to catch the exact bottom, I just don’t want to start re-entering the market if there’s another 10% or more to drop, for example.

But, once we pass to the bottom it’ll be the perfect time to go heavily into equities.  Looking back at the early 2000′s recession, the market lost almost half its value in a bit less than 2 years, then gained it all back within about 4 years.  This one will likely take longer, but doubling your money in 5 or 6 years would be pretty good.