Wait? Wait for What?

Lord, give me patience. And please, give it to me quickly.

That’s what many people are praying these days. Encouraged to wait patiently for the economy’s recovery, they’re compulsively tapping a foot. For a while it looked like all the data were improving. Then came last month’s employment setback. Now a raft of statistics look gloomy. Some are calling for a second stimulus program as a result.

But there are positive signs, like the leading indicators and production surveys. What they’re telling us is that the vicious inventory correction of the last six months is just about over. The data are mixed, and that’s what you expect when the economy turns around. If all the data started to look up, we’d be in a recovery, not a turning point.

Warren Buffet quips that a man can’t make a baby in a month by getting nine women pregnant. It took some time to get into this pickle. We should be patient as we see that we’re getting out.

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

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By | 2014-09-04T19:01:52+00:00 July 13th, 2009|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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