Words of Wisdom

MYOB brings you a controversial figure in this WOW entry - George Soros.



"The worse a situation becomes the less it takes to turn it around, the bigger the upside. "



The Federal Reserve cut interest rate by 75 basis points to 2.25% to send the market into euphoria. Dow rallied more than 3.5%, led by Financials. JPMorgan's rescue of Bear Stearns also ensured that no financial institution gets insolvent. Any instance of that would be the final nail in the Wall Street coffin.



MYOB would like to quote Mr Soros on bottom fishing. There is no certainty, or any clarity for that matter, that a turn-around is near. The market, driven by bad economic conditions, could sink further. Nevertheless, MYOB would like to highlight that even with all the gloom in the market, we should make it a point to balance the gloom and the optimism. You want to be there when the train leaves the station.

Emptor caveat.