Why I’m Staying Away From Debt Right Now
July 12, 2008
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RELATED TICKERS: GS
, DBO
After last week, it’s not such a great time for someone like me. Ever since the mortgage crisis and debt markets hit the fan, I’ve been trying to spot a bottom. One of the smartest things I did was sell my shares of Goldman Sachs (NYSE: GS) at above $180 a share and buy shares of ProShares DB Oil (AMEX: DBO) at $49.90. Prior to that, I got GS at a horrible price, so I can’t say I had the best idea necessarily.
Hooray for Commodities
After perusing through ETF Connect last night, I did find some funds that would probably be better than DBO too, but I’m not sure they were around when I first bought the fund (at least two of them started 6/30/2008. They’re so new, ETF Connect doesn’t yet have any data for them!).
I’m still happy with my purchase…I mean Its returned over 10% since I bought the fund like two weeks ago. But if you’re someone looking in to investing in oil, or at least hedging yourself against oil, I’ve got the funds right here:...
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