I will keep it very brief today. The 2008 Beijing Olympics have officially started. The opening ceremonies were incredible but I can't find some video clips yet so I decided to post the "Beijing Welcomes You" track as well as the one world one dream video for the 2008 Olympics.
The markets were in festive spirits today as Wall Street rebounded sharply, soaring higher as a surge in the U.S. dollar and another drop in oil prices eased investors' worries about losses at Fannie Mae. The Dow rose 302.89, or 2.65 percent, to 11,734.32. The Standard & Poor's 500 index advanced 30.25, or 2.39 percent, to 1,296.32 and the Nasdaq composite index advanced 58.37, or 2.48 percent, to 2,414.10.
All I can tell you is that the party in Beijing will last a lot longer than the party on Wall Street (ie. beware of sucker rallies, especially in a bear market).
But today is not about Wall Street. Today is about Beijing, China and a world uniting to celebrate the 2008 Olympic games. Watching the opening ceremonies reinvigorated my firm belief that no matter what challenges lie ahead, the brave new world will confront them and overcome them.
I hope you all enjoy watching the 2008 Olympic games.
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I am an independent senior economist and pension and investment analyst with years of experience working on the buy and sell-side. I have researched and invested in traditional and alternative asset classes at two of the largest public pension funds in Canada, the Caisse de dépôt et placement du Québec (Caisse) and the Public Sector Pension Investment Board (PSP Investments). I've also consulted the Treasury Board Secretariat of Canada on the governance of the Federal Public Service Pension Plan (2007) and been invited to speak at the Standing Committee on Finance (2009) and the Senate Standing Committee on Banking, Commerce and Trade (2010) to discuss Canada's pension system. You can follow my blog posts on your Bloomberg terminal and track me on Twitter (@PensionPulse) where I post many links to pension and investment articles as well as my market thoughts and other articles of interest.
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