Markets in turmoil, what's my game plan?
So last Friday we received enough bad news to make a funeral look fun. Jobs numbers were less than half of expectations, Yields for some of government bonds for problem countries in Europe like Spain are approaching an unsustainable 7% and major sources of growth in the past like China and Brazil are slowing significantly. Basically the world was ending according to news related to the equity markets. So what now? What do I plan to do in such a questionable market? To start with, where am I now from where I was over a month ago (wow, I've really been slacking on the blogging world)? Not much has changed, actually. I didn't sell any of my Citigroup stock at the points I was thinking of because it dropped so fast from the JP Morgan ordeal. I suppose I could've had a stop in place, but considering the rate of decline, I think this is the better option. Citi's price to book is close to half when the norm is actually 1 - 1.5 on average. When (not if) the markets find