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From Financial Crisis to Recovery (Collection)
book

From Financial Crisis to Recovery (Collection)

by Mark Zandi
December 2012
Beginner
593 pages
13h 59m
English
Pearson
Content preview from From Financial Crisis to Recovery (Collection)

8. The Fallout

When my son turned 11, I opened a Schwab brokerage account for him. This was in the midst of the technology bust; stock prices had fallen far below their bubble peaks, so it seemed like a good time to buy. More important, it seemed a good way for him to learn about investing, the economy, and the world around him. We didn’t catch the market’s bottom—9/11 hit a few months later—but we did pretty well over the next several years. I taught him about the merits of long-term investing and diversification; staples in our portfolio included blue-chip companies such as JPMorgan Chase, IBM, ExxonMobil, and Boeing.

A decade later when he turned 21, the Schwab account became his, and to send him on his way, I put some cash into the account. ...

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Publisher Resources

ISBN: 9780133382761