The Motley Fool's What to Do with Your Money Now
Ten Steps to Staying Up in a Down Market
America is emerging from an unprecedented period of economic turbulence. Life as we knew it -- and became accustomed to in the roaring nineties -- changed in 2001. We witnessed the devaluation of Internet companies, the collapse of the stock market, massive layoffs, recession, and an international war on terrorism, fear and insecurity at home and in the marketplace.
From the Wall Street investment banker to the single working mom, from the Silicon Valley venture capitalist to the Main Street small business owner, from the baby boomer fast approaching retirement to the unemployed twentysomething software engineer, everyone wants to know the same thing: what should I do with my money now?
In their trademark amusing style, David and Tom Gardner answer this critical question and recommend a dozen quick steps readers can take to survive economic uncertainty, secure their personal finances, and sandbag their portfolios. The Gardners offer a snapshot view of the business and money world in early 2002. They take us through the rise and fall of the American markets and economy, offer lessons to act upon now, and provide a look ahead to the future with some timely and perhaps more timeless thoughts on the right perspective to take as an investor and businessperson. Along the way, they address such important issues as:
What should be done about debt in the short term?
Is this the time to snatch up stock market bargains?
Bonds, T-bills, CDs, savings accounts -- does it make sense to be conservative?
Are any mutual funds sure bets?
Why you should believe in America more than ever
No matter what life stage you are in or your level of investing expertise, The Motley Fool's What to Do with Your Money Now has important investment advice for you.
Read an Excerpt
A New York Times cartoon from the late 1990s perfectly captured the spirit of the age. Entitled "How to Start Your Very Own Silicon Valley Startup," its captions went thus:
STEP ONE: Go to Menlo Park. Find a tree.
STEP TWO: Shake the tree. A venture capitalist will drop out. Before he regains his wits, recite the following incantation: "Internet, Electronic Commerce, Distributed Enterprise-Enabled Applications, Java!"
STEP THREE: The venture capitalist will give you $4 million.
STEP FOUR: In 18 months, go public.
STEP FIVE: After you receive your check, go back to Menlo... see more
Should auld acquaintance be forgot,
And never brought to mind?
-- ROBERT BURNS, "Auld Lang Syne"
Widely published business theorist Peter Drucker criticized the career of Apple cofounder Steve Jobs by stating that Jobs met with too much success in the first five years of his career. Consequently, he never really had to make "the tough decisions." And when later he and his company did get in a bind, during the encroachment of new manager John Sculley, it became too easy, acceptable, and perhaps convenient for Jobs to part, quit, walk away. Start NeXT Software. Start Pixar. Come back to Apple on a white... see more
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