Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, September 15, 2008

Red Ink

The weekend saw a couple of dramas unfolding on Wall Street. Lehman Brothers is the latest financial firm to fall because of the problems in the credit market. While the Feds helped Bear Sterns find a suitor, then stepped in for Freddie and Fannie, Paulson refused to lend a hand to Lehman. The Koreans expressed an interest, then backed up after weighing the risks. The Feds' decision to finally let the free market work caused Merrill Lynch to take an offer from Bank of America. Two big announcements caused uncertainty to sweep the globe. Overseas markets were down around 4% before our opening bell. By the end of the day, we were matching that decline. DJIA -504.48 NASDAQ -81.36 S&P 500 -59.00

Thursday, September 11, 2008

A Bounce

Markets bounced back up today after a rough and tumble week. On this very auspicious day, everyone took a breather to remember September 11. Oil dropped to nearly the $100 mark. The Superbowl is 3/4 sold out on advertising. And stocks added nicely by the end of a topsy turvy day. DJIA +164.79 NASDAQ +29.52 S&P 500 +17.01

Wednesday, September 10, 2008


Markets calmed downed today after the two day roller coaster ride. Unbelievably, oil is just over $102 per barrel. Why isn't my price at the pump plummeting? Gold futures are also falling. Lehman's woes are still weighing on financials. Overall, markets managed to add back a few points. DJIA +38.19 NASDAQ +18.89 S&P 500 +7.53

Monday, September 08, 2008

Welcome News

The news that the federal government is stepping in to bail out Fannie Mae and Freddie Mac was welcome to Wall Street. While there is a question about the outcome for stockholders in the individual companies, overall the news was good for the economy. These two giants hold mortgages and securitize mortgage pools. The move will reassure buyers of credit instruments and will ease the tight credit on real estate. Long-term rates may even decline. Large-caps cheered! DJIA +271.54 NASDAQ +12.55 S&P 500 +23.12

Wednesday, September 03, 2008

Mixed Bag

Oil prices are still giving us some relief, but the questions now swirl about the meaning for the global economy. Are prices declining because of a worldwide slowdown? Only time will tell. The automakers took it on the chin today, releasing reports showing continued sales declines. Factory orders are up, though. This strange combination kept Wall Street in limbo. DJIA +15.96 NASDAQ -15.51 S&P 500 -2.59

Tuesday, September 02, 2008


We are breathing a sigh of relief in Mississippi, as Hurricane Gustav sent us a light, glancing blow over the Labor Day weekend. My family in Gulfport didn't even lose power during the storm. Of course, they were prepared with a generator and bottles of water. In Jackson, it's just been a rainy, blustery day. For those in Louisiana, it's not all good news, but it's so much better than expected. Markets responded with a resounding "Whew!" since our oil supply is linked to the health of the area. At first, the Dow added over 200 points, but that green lead dwindled by the end of the day. Could it be that we are realizing that Hanna and Ike are close behind? DJIA -26.63 NASDAQ -18.28 S&P 500 -5.25