I have "managed forex account" with my Forex broker/manager who trades Forex on my behalf & manages my money and he paid profit of +176% for Year 2008. I do not need to trade. I believe Forex is the only profitable investment because Forex means "trading in international currency" and it will stay as long as financial world in running. Forex is competition among international currencies. I sold all my shares/stocks 6 months back and earned excellent profits. I knew stock markets will crash rock bottom.
Talknet please don't take my previous response as a sign of disrespect. I admire and respect a trader with those kinds of returns--if i may ask how did you get into trading foreign currency & how long have you been doing it? Thanks
I do not trade forex. My Forex broker/manager pays me profit every month by trading Forex on my behalf & he manages my money. In fact, I do not have knowledge of forex trading. I have invested my money with the Forex firm owned by my Forex manager. That is the advantage of "managed forex account". Invest money and go on vacation in Switzerland or Cruise ship or African Safari. Every month profit will be sent directly to your account. But there is loss also if there is bad month.
Caterpillar to cut 20,000 jobs . Caterpillars are the manufacturers are "30-feet high giant mining trucks" and other heavy & giant machinery. CHICAGO (Reuters) - Caterpillar Inc said on Monday that quarterly earnings fell more than 32 percent and warned of a tough year ahead as the downturn that began in the United States metastasized into a full-blown global recession that hit sales of its earth-moving equipment. The company also warned that profit in 2009 would be under severe pressure and said that it would cut about 17,000 workers and buy out 2,500 others, to reduce costs in the face of what it predicted would be the weakest year for business since the end of World War Two. http://uk.reuters.com/article/pressReleases/idUKTRE50P2SM20090126
All the Giant banks are inter-connected/linked to each other because they have same business model. If one falls the others go with it. It will be a domino affect.