January 9, 2009
From today’s Globe and Mail…….. “The bad news is that we are in a recession, and a fairly deep one at that. The good news is that the stock market has already discounted a depression,” said Jeff Rubin, CIBC World Markets chief economist and chief strategist.”
Thanks Jeff, tell us something we don’t know. Wait, Jeff are you saying that the stock market is a buy? Hmmmm……..Jeff read my blog on my New Year’s Resolution that I don’t trust the stock market anymore and that it is a gamble, and what you are saying, may be a gamble even though it may occur.
Let’s look…….Bernie Madoff? You are a bad man. You ripped off your friends, family, put their hard earned saved money in jeopardy and told everyone what a genius you were in the stock market. They believed you, and now they have lost their money and you Sir, go to jail! If you had stuck with hard assets, kicking off cash flow maybe, just maybe instead of jail, you could be golfing with Howard. But, you were too smart!
By the way even in Canada, (from the Globe again today)…………
“Biovail Corp. has agreed to pay a $5-million penalty and costs of $1.5-million to the Ontario Securities Commission after it admitted misleading investors in its financial disclosure.
Under the settlement, approved today by a panel of OSC commissioners, Biovail acknowledged that some of its financial filings in 2001, 2002 and 2003 were “inaccurate.” The Mississauga-based company also made false statements to the OSC during its investigation, the settlement says. The penalty is the largest ever imposed on a company by the OSC.”