Tag Archives: trendy

Of Credit Default Swaps, Gov’t Responsibility and Being Non-Trendy: an OPEN FORUM on the Economic Crisis

7 Nov

Hello fellow Insiders!

What a great day we had on October 25th.The weather may have been gloomy here on the East Coast, but our members were ready to mix it up as we held our first OPEN FORUM on the State of the Economy.A number of our local members and their guestsjoined us at our offices as we held a friendly yet honest discussion on their concerns about this tumultuous economy.

Topics such as globalization, morality, personal fiscal responsibility, buying ‘puts’ and other more disciplined investing techniques, staying ahead of trends, and the true purpose of government were all discussed.While our President and COO, Heru Nekhet and Augustine Diji, respectively, opened with a detailing of the history of capitalism as well as a breakdown of where it’s going in the future, among the longest and most spirited of discussions was about Credit Default Swaps and just how convoluted the whole process is.It would take a long edition to explain these to you, but our forum was truly timely since the following night 60 MINUTES did a story on this type of investing.Check it out here for an explanation on just what ‘Swaps’ are:

Another of our most memorable exchanges focused on creating/re-creating your business to be Recession-Proof.As Heru explained, “The day of the 9-to-5 worker is dead. You can’t just go to college and then come back and run the steel mill in your town.You have to keep educating yourself.”He expounded on that by breaking it down that more and more big businesses will be hiring ”independent contractors”as opposed to regular staff in order to reduce overall costs.Another quality suggestion he presented is getting into services that use the economic crisis to your advantage, such as credit counseling, financial management, career counseling for people to learn new skills – as long as there is profit and need for it, you can be even more successful than you were doing during the ‘boom times’.

Everyone left with higher self-assurance that they can still succeed despite the recession.To get more advice on how to handle yourself and your money during this period, keep your eyes peeled to this blog and our email blasts.

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