Suze has a helpful analogy: she says we are in now in ICU. We are going to need to stay there for 6 mo or 1 year. Then we're going to be sick at home for a while. I think I get it now!!
She says we are in for an L-shaped recession
Then we are going to be in rehab until 2015! Oh, noooo!!
She says, like Cramer did, that if you need the money for anything you should sell and take your losses. But maybe wait until there's a little bounce (doesn't say WHEN that is).
But don't panic and have faith everyone! says Suze. We're not doing so bad! :confused:
Suze also says, Stop spending money . go slow. . we will get through this together. And don't miss her on Oprah Winfrey on Monday for "Can you afford it?"
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I like Suze, too. She seems to have some common sense. I love the way she screams "DENIED" to morons who want to buy things they cannot afford. Guilty pleasures...
Frank detests her and says she acts like a dominatrix.
__________________ "Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harborless immensities." - - H. Melville, 1851
She can be over the top. Hey its TV. She is supposed to be entertaining too. I do think some of her advice sucks. But I think she is spot on about debt.
She can be over the top. Hey its TV. She is supposed to be entertaining too. I do think some of her advice sucks. But I think she is spot on about debt.
I have always appreciated her until this evening's show. She really really ticked me off with her patronizing, icky poo financial analysis for us morons.
But one good thing about her is that she absolutely hates annuities.
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I don't watch Suzie - I'm sure at heart she's a real sweetie. I just hope she's wrong about her guestimated time frame - a repeat of 1966-1982 would tend to make me real grumpy.
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Wonder how many of her old clients still have money left, considering she used to consult with her "crystal" to decide whick stocks to by for them? Heck, I would rather take a crack at CFB's Magic 8 Ball...........
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
She says, like Cramer did, that if you need the money for anything you should sell and take your losses. But maybe wait until there's a little bounce (doesn't say WHEN that is).
Many people look up to both Suze Orman and Jim Cramer because they rightly or wrongly perceive them as experts in their field. It's an abuse of their power for these two celebrities to recommend selling stocks that are now down an average of 42% in the past 12 months.
Those who sell this late in the downturn will regret their emotional decisions for the rest of their lives. The recommendations of these two characters contribute to the ongoing crash on Wall Street caused mostly by speculators.
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"I went to the woods because I wished to live deliberately... and not, when I came to die, discover that I had not lived."
Suze Orman and Cramer...honestly, are they much different than Billy Mays with the Handy Switch!
They're a joke. Save for Louis Rukeyser and a few others that have been on, most people on TV talking about stocks aren't much higher than Suzan Powder, Billy Mays, Joan Rivers on QVC....what's the difference between them? They're loud obnoxious characters dumbing you down, lecturing you, treating you like you're 4 years old.
I flipped through the channels the other night, Suze was on Larry King. Lecturing everyone. Everyone is in debt according to Suze! Larry brought up..."but if you're not in debt, this crisis isn't going to hurt you?"
Then Suze, annoying as ever..."Larry, everyone is in debt!"
Everyone watching Larry King is in debt! That's a new one.
The problem with these guys is they build these personas, then they can never back down from it. Cramer can't get on tv and tell you he's been wrong, just skip stocks...pay down debt instead. They pretend that there's always something to do. Maybe there isn't for 6 months.
They should focus on paying down debt and financial discipline. And personal investment in yourself. That pays off more than a stock at 10 or 12%. It's not as exciting as stocks, but so what.
I Wonder how her TIPS are doing that she recommended so highly. phew they got hit as hard as stocks this week if you hold them short term, and market thinking is you will get killed in lost interest if inflation climbs as new bonds are issued at far higher rates. if your not getting those higher rates your loosing then regardless if your bonds are fixed at par or not.
people think because they buy individual bonds and get par they arent loosing. but holding 3% bonds in a 6% world is a loss...... no matter how you want to fool yourself if a money market is at 6% for a period of time and you get 3% on a bond you are loosing 3% for that time frame
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