Chances are you’re reading this post because you’re looking for some advice about the market. Well you’ve come to the right place.
On this very website we can point you to a big article that argues “stocks eventually offer the best returns over time. All investors need is patience."
What? You don’t like that advice? Okay, okay. Well, here’s another good read.
This one says “in terms of investments we assume that 2009 is going to be a poor year for stocks.”
Not your cup of tea either? Well check out all of these.
- Pros Predict: Banks Will Start Lending
- Home Buying Comeback Ahead?
- Stock Picker: Don't Miss Coming Rally
- Dr. Doom: Opportunity in Hard Assets
- Video: Market Mavens Find Hope for '09
In fact there’s so much advice out there – there’s only one thing we can tell you for sure. Uncertainty is pretty high in this market.
Considering that's not going to change anytime soon we thought the best advice might come from someone who’s been trading for a long time. We're talking somebody who not only survived, but thrived in all kinds of markets.
We asked Dennis Gartman, author of the Gartman Letter, how do you trade with uncertainty so high?
Following are the main points he related to our producers.
--I want to own stocks for the coming year...struck by the fact that so many large-cap stocks are not selling at dividend yields at or near 6% while the P/E's are less than 6...have never seen this sort of thing before.
--I am enthralled by the fact that you can buy a portfolio of old-guard long-standing names like Dow Chemical, Alcoa, GE, Freeport McMoRan, Norfolk Southern, United States Steel, ConocoPhillips, Deere & Co, and get an average of 5.95% in dividend, and have an average P/E ratio of 5.7.
-I want to shun debt securities in '09. My fund in Canada made its year by being long of Canadian debt securities, hedging our position in commodities, and we are going to be skewing the position toward a slightly longer view on commodities.
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Trader disclosure: On Dec. 31st, 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 (SDS), (MCD), (WMT), (MSFT), (TM); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Tatro Owns (JPM); Quint Tatro Is The Principal Of Tatro Capital; Tatro Capital Owns (TBT), (DXO), (APOL); Tatro Capital Is Short (AAPL), (GOOG), (MCD), (XOM); Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (OFC), (DLR), (EXR), (IGE), (MAC), (DBC), (DBV), (SKT), (UA), (CLB) : Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
CIBC Gartman Index Is Short Crude Oil; CIBC Gartman Index Is Long Natural Gas; CIBC Gartman Index Owns Gold
GE Is The Parent Company Of CNBC