PHILADELPHIA – Nationally syndicated host and biblical investing authority Dan Celia discusses the status of the markets, as well as potential for an American recession should the government not address key issues.
In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More
Current Market Trends
Celia stated, “Tuesday was a big day in the market. The Dow rebounded 450 points, which wiped out pretty much all of Monday’s losses. We’ll continue to watch the economic data coming out right now. The sector index that came out on Tuesday was just barely higher than it was last month, which is not good news. There was some positive movement, but the service sector is the largest part of our economy and therefore something that we must watch very closely. I would hardly call the number that came out Tuesday for the month of September a positive sign or a good number.
“Treasury secretary Janet Yellen says the U.S. faces a recession. If Congress doesn’t address the debt limit within two weeks, Ms. Secretary, the Congress faces a severe depression, reset currency crisis, monetary crisis, and recalibration of currency and credibility crisis. Congress needs to address the debt that the country already has and come up with solutions that are reasonable for cutting the size of government, increasing growth in the economy, and doing everything possible to eliminate the debt and maintain the sovereign nation of America. I think the political talk is going to give us some insights as to where we are going to end up far more than any kind of analytics or fundamentals.”