People ask me what I think of the market, and I honestly tell them that I am of two minds.

On the one hand, we have the worst employment market in a generation. Following the cessation of leasing programs in August, auto sales fell off a cliff. We now have the practical consequences of the seizure in consumer finance. It’s frightening to invest during such volatile times.

But on the other hand the equity market is resilient, LIBOR spreads are coming in, banks are issuing bonds, and the markets look and feel constructive. By any measure, most stocks and bonds offer value. A stock market that can absorb the worst jobs report in 38 years and end the week with a strong rally is a market that I want to be part of.

This Dr. Jekyll / Mr. Hyde market economy is about to get a trillion dollar stimulus. What do I think about the market? Don’t panic but don’t be manic. Stick with your long-term plan, and enjoy the ride. We’re living through history.

Douglas R. Tengdin, CFA
Chief Investment Officer
Hit reply if you have any questions—I read them all!

Follow me on Twitter @GlobalMarketUpd

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By | 2014-09-04T15:55:10+00:00 December 8th, 2008|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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