I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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Friday 9 July 2010

Stock Gains Aren't Just 'Paper Profits': Greenspan

By: Michelle Lodge Digg

The stock market rally over the past few days has been encouraging and represent real profits, former Federal Reserve chairman Alan Greenspan told CNBC Thursday.

A lot of people think of stock-market gains as paper profits. I think that’s the wrong slant,” said Greenspan.

Greenspan was interviewed live while attending the Aspen Institute Ideas Festival 2010 in Colorado, which is an event that draws leaders in the fields of business, science, the arts and politics. It concludes on Sunday.

Stock prices tend to move with the economy, with some lead,” he added.

In a CNBC interview earlier in the week, Greenspan said stock market declines are "typical" of the recovery process.

In Thursday's interview, the former Fed chairman said that between March of 2009 and 2010, 401 (k) accounts had increased by $800 billion. “That’s a huge amount,” he added.

Greenspan also said:

Commercial banks and nonfinancial corporations are holding on to some $3 trillion in cash because “they’re scared.” And banks aren’t lending because “they are afraid they won’t get their money back.”

China is buying foreign currency, including the US dollar, because their leaders don’t acknowledge that their currency is undervalued.

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