The Dividend Investing Blog

The past week has been a stinger. Stocks have still closed down ten of the last eleven days, retail sales are falling, and core prices rose. We had a huge rally on Monday followed by a two successive days of drops. The $700 billion bailout has started to take shape. It looks like the government is actually going to make an investment into the banks rather than buying up junk assets from the banks. The talking heads all say we saw a bottom last week and it was a good sign we saw the bounce.

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Where should I start? I keep thinking someone will wake me out of my nightmare. The market has taken a huge nosedive since last week and almost everyone thinks there is more of the same in store for us. The S&P 500 is down over 30% from last year. We are at five year lows for the DOW. Six consecutive days of losses and boy do I mean losses. The Emergency Economic Stabilization Act of 2008 was passed on Monday. Yay.

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The Oracle of Omaha was on the move again today. Last week he stuck $5 billion into Goldman Sachs. This time he took advantage the credit crunch and General Electric (GE) to sink $3 billion into GE preferred stock. GE will pay him 10% on the shares every year and he has an option to buy $3 billion more over the next five years.

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