This morning the Dow futures are up 112 because Bank of America received $138 billion government lifeline. Citigroup, the financial-services company that dropped 43 percent this year, added 5.7 percent after announcing plans to form two new businesses and to split the units it wants to keep from other, “non-core” assets.
Bottom line. I cannot trust a market soaring every time the government gives away billions of dollars to companies that have mismanaged their business. The response of the market is very naive and I do not trust it.
To find out more about my in depth view of the markets and my strategy just visit our website https://www.peterdag.com/. You can review The Peter Dag Portfolio, free of charge of course. You can also call me at 1-800-833-2782 to discuss your specific money management needs.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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