Tags: forbes | credit | crisis

Forbes: Credit-Crisis Fever Has Broken

By    |   Tuesday, 04 Nov 2008 09:19 AM

The credit-crisis fever has broken and the worst is over, according to Forbes Editor-in-Chief Steve Forbes.

Now investors’ worst enemy is emotion, not the market.

"Everyone says they are long-term investors, but as soon as the market tanks, they ask, 'Is it too late to get out?'" Forbes said during a BBC interview.

“If you (proceed) cautiously, and don’t mind a few months where things remain volatile, I think long-term investors will do very well.”

Forbes believes that the strengths of the global economy remain intact.

“Remember, we had a 25-year-long boom with upwards of 70 million people joining the middle class each year,” Forbes notes.

“I think these strengths will re-emerge next year, assuming governments don’t make another round of mistakes.”

European Union Economic and Monetary Affairs Commissioner Joaquin Almunia, however, thinks that the worst financial crisis in generations is not yet over, despite lower volatility in recent days.

"The situation in the markets remains precarious and the crisis is not yet over. This means weaker growth,” Almunia told eubsiness.com.

"Confidence for consumers and investors is falling and external demand coming from emerging countries is diminishing," Almunia said, although lower inflation provides some relief.

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The credit-crisis fever has broken and the worst is over, according to Forbes Editor-in-Chief Steve Forbes.Now investors’ worst enemy is emotion, not the market."Everyone says they are long-term investors, but as soon as the market tanks, they ask, 'Is it too late to get...
forbes,credit,crisis
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2008-19-04
Tuesday, 04 Nov 2008 09:19 AM
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