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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (65421)2/7/2001 12:47:06 PM
From: SouthFloridaGuy  Read Replies (4) of 436258
 
Heinz, may I nominate a clown for this thread from CNBC? It is Barry Habib of Manhattan Mortgage, who in his wisdom told the viewing public that they should refinance their homes and use the savings to invest in the stock market at current levels.

In his "conservative" approach he suggested that this is a great time for viewers to refinance and put the savings into an SPX index fund because if they get "historical" returns their money will double in 5 years from these undervalued levels and a $30,000 investment now made for your children should turn into $240k by the time they enter college.

I am paraphrasing him because I was screaming aloud at the TV and didn't actually hear his finer points. But I really didn't care about his finer points.

Further evidence that the bear market will be long and punishing.
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