10 Things to Do in the Financial Meltdown
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financial crisis
10. Save at least 3 months of your salary in cash. Preferably around 5 months considering we are in the midst of uncertain time.
9. Keep your cash in at least 2 different banks.
8. Keep a third of the cash around your house.
7. Invest the rest in a mixture of bonds in high cash flow companies, equities in cash rich and high dividend yield companies and unit trust/mutual funds in emerging markets and small cap companies.
6. Switch off the Bloomberg and financial news channels and watch it dispassionately once a week just to know what is happening.
5. Read books on value investing.
4. Look and see what Warren Buffet is doing. He bought $5 billion of Goldman Sachs on Monday and invest another $3 billion in General Electric yesterday. Buy them too if you have money to spare. Follow the great man and do what he does.
3. Petition your congressman to enact stricter regulation on derivative trading.
2. Buy into companies you admire but could not normally afford to.
1. Go on a holiday, take a break, smell the flowers, watch the world go round ....
9. Keep your cash in at least 2 different banks.
8. Keep a third of the cash around your house.
7. Invest the rest in a mixture of bonds in high cash flow companies, equities in cash rich and high dividend yield companies and unit trust/mutual funds in emerging markets and small cap companies.
6. Switch off the Bloomberg and financial news channels and watch it dispassionately once a week just to know what is happening.
5. Read books on value investing.
4. Look and see what Warren Buffet is doing. He bought $5 billion of Goldman Sachs on Monday and invest another $3 billion in General Electric yesterday. Buy them too if you have money to spare. Follow the great man and do what he does.
3. Petition your congressman to enact stricter regulation on derivative trading.
2. Buy into companies you admire but could not normally afford to.
1. Go on a holiday, take a break, smell the flowers, watch the world go round ....
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October 16, 2008 at 11:30 AM
and try to have a personal financial advice..
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