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Election
Trying to remember who won what and why? All the information is right here. |
Daily Digest
This is Jake
He's been lost in Pittsfield for weeks but frequently sited. He was last seen heading toward the fire station on Peck's Road. He's tired, dirty and needs seizure medication. He's chipped. If you see him, call Julie at 413-537-5616, the vet 24/7 at 413-499-2820 or animal control at 413-448-9700. |
ObituariesSales FliersWhat's Playing
The popular anime character "Astro Boy" searches for acceptance on the big screen.
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BazaarsNov. 7:
VNA & Hospice, Community Room, North Adams
North Adams Elks
10-4; Nov. 8, 9-2
Crafters, Chinese auction, bake sale
For vendor information, Melanie at 413-743-5562.
Nov. 14
Berkshire Community Church, Richmond
10-4; Crafters, bake sale. Contact Evelyn Goggia at 413-445-5747
Lanesborough Elementary School annual Fall Craft Fair from 10 to 4. Free admission, huge variety of arts and crafts, raffles, food and more. Proceeds go to sixth-grade trip to Cape Cod.
Vendors can contact Deb at 413-738-5349 or debhutton@aol.com or Lori at 413-499-0065 or lorittod@yahoo.com to secure a spot.
Dec. 12-13
North Adams Country Club, crafts 9-4; food from That's a Wrap from 11-2. Contact Sheryl Morehouse at 413-822-3329.
Planning a bazaar this season? Submit information to info@iberkshires.com to have it listed here. |
Sports | Thursday, Nov. 06
Boys' Soccer: State Vocational Championship Game
McCann Tech 3, Keefe Tech 2
Girls' Soccer: State Vocational Championship Game
Blackstone Valley 8, McCann Tech 0 |
Related Stories |
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@theMarket: Markets Offer Value But ...By Bill Schmick
iBerkshires Columnist
08:57AM / Friday, October 17, 2008
 | | Bill Schmick |
Who can blame the wary, weary investor? They are faced with markets that swing wildly, the averages gaining and losing more in a day then they usually do in a year. Most have lost a mountain of money and the headlines continue to spew a litany of bad news. The markets are dangerous and yet, stocks are cheap.
Last week, I mentioned that there were real values out there and that prices had fallen to absurd levels in some cases. Today, Warren Buffet in a New York Times op-ed article echoed my own words. He wrote that he was buying American stocks in his personal account.
"A simple rule dictates my buying," he wrote. "Be fearful when others are greedy, and be greedy when others are fearful."
That's good advice but the Sage of Omaha also pointed out that in the short-term — over the next day, month or year — anything can happen in the markets. Buffet is a long-term investor. He is patient and can afford to wait out the turbulence for what could easily be one, two or three years of difficult markets.
"That's great for him," said a client, "but I'm 72 years old and I need my retirement money now to live on. Who knows if I'll even be alive in three years?"
It is a point well taken, given the breath-taking declines in the market that saw billions evaporate in just two weeks from so many 401(k)s and IRAs. I suspect those who moved to cash will stay there until they see conclusive proof that it is once again safe to go back in the water. So what would be some of the sign posts to look for?
Credit conditions top the list. We watch the three-month Treasury bill yield, the LIBOR rate (London Interbank Offer Rate with which banks lend money to each other), the interest rate spread between the two and the yield on overnight commercial paper. The high-yield bond market is another indicator we use. I am happy to tell you that all those indictors have improved over the last week except the high-yield market; however, they are still far from normal.
Real estate values and the rate of new and existing home sales are also on our list. So far we see little positive news coming out of that sector. We're betting housing won't see a bottom until next summer.
The decline in energy and other commodity prices have been a positive for the economy. Lower prices not only help the beleaguered consumer but have eased inflationary pressures, which could give the Federal Reserve room to cut interest rates again. They may need to do that as early as the end of the month at the Federal Open Market Committee meeting since recession to most economists is a certainty. They only debate how deep and protracted it will be.
The indexes continued to gyrate wildly all the way up to the close Friday afternoon. Several days the indexes experienced swings of 8 and 9 percent in one day. God help those naive investors who chased the market up. No sooner were they invested then the markets turned dropping 4 or 5 percent in a matter of minutes.
I agree with Buffet. If you are putting money in this market you better be a long-term investor!
Bill Schmick is a licensed investment adviser representative and portfolio strategist as well as a registered financial planner with Berkshire-based Dion Money Management, which manages more than $550 million for middle-class Americans from coast to coast. Direct your inquires to Bill at 1-877-850-7942, Ext. 146 (toll-free), or at wschmick@dionmm.com. You can also visit www.afewdollarsmore.com for more of Bill's insight. |
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