Stock Pros Who Survived the Depression

[ExpectedValue]

http://online.wsj.com/article/SB123981155929121475.html

 

Perspectives from Irving Kahn, Walter Schloss, and Seth Glickenhaus

[Grenville]

Nice article. Thanks for posting!

[Parsad]

While he understands investors' hesitation today, Schloss doesn't think our current situation compares with the Depression. Back then, he says, the economy was dependent on only a handful of businesses, like banks, railroads, utilities and oil companies. Today economic growth comes from a much broader array of industries, many of them fueled by the huge gains in technological development we've seen over the past eight decades — including communications, biotechnology and the Internet. Sure, General Electric is still a powerhouse, but so are Google and Amgen. That means a much wider array of job possibilities — and more engines of growth for our economy. If investors today "were a little less emotional, they would see that this could be a good opportunity, so long as they move carefully and keep an eye on balance sheets," he says.

 

I couldn't agree more with Schloss' comments.  Cheers!