March 14, 2008 6:58AM

So Over This

By Cheryl Casone

I have two things to share with you. One is exclusive to those that are kind enough to check out this blog every day, and the other is for those that have been losing money and have felt frustrated with what has happened to the markets and our economy these last six months.

I’ll start with the personal. I have been keeping a secret from viewers this last month. I had foot surgery in February, and my foot is encompassed in a large, black, surgical boot that is uncomfortable, awkward, and about to be thrown in the trash! It has been painful. The director and producers have been kind enough to shoot our show a certain way so the camera never sees me from the ankle down. The way our show is formatted, they have had to adjust their angles, their formats, and sometimes the way the guests are situated. Thank you to them! I am an avid runner, and there was a lot of damage to the bones in my foot. As of next week I will be back to normal, and I can’t tell you how much I appreciate mobility, and walking. It has made me think about those that for whatever reason don’t have physical freedom, whether they are injured, handicapped, or elderly. I have insight I didn’t have before. Take care of your health and your body (and appreciate those tootsies).

Then there is the financial. Today, we had breaking news that I pray, wish, hope, and dream is true. We may be on our way out of this subprime mess. I am so sick of saying subprime, sick of reporting it, sick of trying to figure out when it might end. Standard and Poor’s issued a statement today that they believe, because we’ve seen the full year statements from major banks and mortgage lending institutions, that the subprime death march may be over. Do you know how key that is? I know what you are thinking. They are a rating agency, and their reputation is questionable and tarnished. But, if indeed what they say is true, and I hope it is, that would mean that we can once again believe in the value of stocks and bonds. In fact, I would argue that there are some value companies out there that have been thrown to the curb. And what is up with MUNI bonds? Are you kidding me? I know cities and counties can go bankrupt, but I was surprised at the level of scrutiny that is being leveled at them. We might as well put the money under our mattress if we have become that skeptical.

4 Responses to “So Over This”

Comment by Pippa

March 14th, 2008 at 12:32 pm

Oh Cheryl! I hope your foot gets better. I am sorry you had to go through surgery. You’re a real trooper! I love watching you!!
Comment by Mike Garcia

March 14th, 2008 at 12:57 pm

Cheryl,
I’m with you on the subprime mess. We seem to see, hear or read about it everyday . . . for months now. I only buy mutual funds for all my investments and retirement, and they’ve been hit hard as just like stocks. From my prespective however, I just keep buying every month ratably as I always have in all my accounts. The market is at a supreme discount as of late and this is when ratability pays off for those with a long term view.

Never bail out on a long term plan when the market goes against you in a few months time, just keep plugging away and in a year, maybe two ro three years, all the money invested during this uncertain time in the markets will be worth it.

Best of luck to everyone.
Comment by mark smith

March 14th, 2008 at 3:13 pm

over? subprime mess over?
fox business.. you .. cavuto all the rest never saw it coming. NEVER SAW IT COMING .
so yes im sure its over now.

m. smith
Comment by Jim Gund

March 14th, 2008 at 5:08 pm

Dear Cheryl: Thank you for doing such a good job at Fox. I watch you and Tom a lot. I have been following with great interest this oil and mortgage thing. See, the way we regular folks have this figured, is that the traders on Wall Street have messed up big time. And of course, we see it as greed driven. If my memory serves me, the Market was closed down in 1914. We think that as things go sour, they collaborate with each other to get out of the stocks that are going down, leaving the regular people to lose. My dad told me that only half the people in the 29 crash lost money. Which means that the other half Made money. Our people went to the Middle East to bring stability and Democracy to the area. Most of us assumed the price of oil would be stable and reasonably priced as a result. Wrong. We are all in favor of making a profit for our goods and services. But billions of dollars in profit over such a short amount of time is cause for some of us to think we need to make some changes. For instance: How about a gas strike? You may have heard of this. How much money would the Feds loose in tax per gallon revenue if no one bought gas or diesel for just one day? Or no one traded for just one day? Better yet, no one go to work for one day, and not use sick time or vacation. Just not get paid, meaning no taxes are generated; a general strike, for instance. People are talking about this more seriously than ever before. And the condesending attitudes of some of the wealthy certainly does not help. Wall Street will not work if the regular folks stop buying. And we are being forced into that situation by the very guardians of our wealth.Isnt that essentially what Wall Steet is? The guardians of our prosperity? Are they not responsible to us as consumers to insure we can do our business in a profitable manner? We cannot do this if it costs us too much for the things we need. I hope your foot is better; there is no substitute for a good run to get the cobwebs out. Hope you can hit the road soon. Thank you, Jim Gund