Showing posts with label Outlook for 2009. Show all posts
Showing posts with label Outlook for 2009. Show all posts

Wednesday, December 31, 2008

Reasons to be hopeful about 2009

Advisor Perspectives Magazine interviewed John Bogle about prospects for 2009. Bogle, 79, "is the Founder of The Vanguard Group, Inc., and President of Vanguard’s Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as Chairman and CEO until 1996 and Senior Chairman until 2000."

A sample:

"Q - What worries you the most about the economy and the markets?

A- My number one concern is the freezing of the credit markets, but I am equally concerned with the slapdash way the Treasury is trying to fix the problem. The troubled asset relief program (TARP) should have been called the toxic asset relief program, but they have yet to buy a single asset. They are injecting capital into banks, but are doing so at a very high price.

Q - Your book discusses the characteristics of good leadership: nurturing the 'soul' of the organization, focusing on values, and 'pressing on, regardless.' Which leadership skills will be most important for President-elect Obama once he takes office?

A - There is not a generalized set of leadership skills. When crew members at Vanguard meet with me, I advise them not to attempt to emulate anyone other than themselves. Be who you are and use your own style. I believe Obama has exactly the right credentials and temperament. He is highly intelligent and an excellent communicator – both in writing and orally. He possesses the integrity, sincerity, hope, and confidence this nation needs. That is why I voted for him."

Suggest you read the whole thing.

Thank us later.