Wall Street Journal Microtrends Column: Fearless Freddies: Bungee-Jumping in the New Economy
By MARK PENN with E. KINNEY ZALESNE
From The Wall Street Journal Microtrends Column
Published March 30, 2009
In these uncertain times, most people are seeking protection and safety from the prospect of even more economic turbulence. But another group is going bungee-jumping into the middle of the financial crisis — bravely increasing their investments even as the markets and the financial system collapse and gloomy predictions abound.
These “Fearless Freddies” are the ones who had the stomach to invest in Citigroup when its share price dipped below a dollar. They are the ones buying oil (and oil stocks) as it hits new lows. They are down in Florida looking for condos and checking out the foreclosures. They are either the smartest people in this changed economy — or the dumbest.
