So I think everyone is tired of hearing about the current economic crisis, credit crunch, financial crisis, sub-prime meltdown, bank closings, increased unemployment, etc., etc. It has definitely been a rough year. I know I’ve personally take a bath on Yahoo (Thanks Jerry Yang) and everyone’s mutual funds are in the tank right now. However, I have some solid investment advice:
If you had purchased $1,000 of Washington Mutual stock one year ago, today you would have $15
With Fannie Mae, you’re $1,000 would also now be worth $15
With AIG you would have about $50
If you had spent your $1,000 on beer one year ago, drunk all of the beer, and then turned the cans in for a recycling refund (in those states that provide one). You would have $75 in your pocket today and an actual hangover, instead of a financial hangover.