91% of all mutual funds are losing money in '08. Even hedge funds -- supposedly the savviest and most nimble investors – are experiencing their worst performance in 2 decades.
With joblessness on the rise and the global economy deteriorating we could be entering the dreaded "point of no returns".
Here's how to strike back.
I look for the best balance sheet and companies with strong cash flow, reveals Karen Finerman. Microsoft and Philip Morris International look good in this environment if you're like me and have to be invested.
Keep an eye on McDonald’s , adds Pete Najarian. If Mickey D’s gets under $60 I think it’s a buy.
I think the banking industry is going to be the big winner when all is said and done, counsels Guy Adami. (In the past Adami has liked US Bancorp. )
I’ll tell you what works, adds Jeff Macke. It’s Wal-Mart . But other than that the best way to hide is in the fetal position.
Point Of No Returns, Pt. 1
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Trader disclosure: On Oct.2, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (UUP), (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (MER), (MS); Seygem Asset Management Owns (FXI); Pete Najarian Owns (AAPL) And (AAPL) Puts; Pete Najarian Owns (GS) Call Spread; Pete Najarian Owns (MS) And (MS) Put Spread; Pete Najarian Owns (NCC) Call Spread; Pete Najarian Owns (RF) And Is Short (RF) Calls; Pete Najarian Owns (SPLS) Put Spread; Pete Najarian Owns (WB) Call Spread; Pete Najarian Owns (XLF) Call Spread; Finerman's Firm Owns (MSFT), (PM)