The Shock Exchange had its last investment meeting of the summer on August 16th and Drew Cary, a former bond salesman at Bear, Stearns and Dreyfus was there.  Drew gave us an overview of the life of a bond salesman and his personal journey from the University of Connecticut to The Street.  [Please visit the Shock Exchange Fund webpage in a few weeks for the details of the meeting].  As an aside, I have received about 30 phone calls from friends and family asking for my opinion on the recent financial crisis and what to do with the money they currently have in the Market.  The short answer is . . . GET OUT!  There may be short-term upticks in the Market due to current or future stimulus packages, but I cannot think of any reason why corporate earnings and ultimately the Market should rise long-term. 

Drew (4th from left) Talks Credit Markets With Shock Exchange

Over the past few years the Shock Exchange has discussed the negative trend in the vital signs of the economy (housing starts, unemployment claims, consumer confidence) and how they will affect the Market and our investment portfolio.  Nobody has a crystal ball of course, but (i) over the coming weeks I would pay close attention to corporate earnings  announcements and Management's outlook for the future and (ii) wait again for 4th quarter earnings announcements in January/February 2009 to determine whether to get back into the Market.  This 3-4 month period will also give investors a chance to analyze the trend in economic indicators and to wait for any new developments to be priced into the Market.