BarCamp LA Investment Advice: Buy a Safe
There has been a lot of confusion as to what the current implications of the US Stock Market are and how, as individuals and business owners, we are affected by it. At the latest BarCampLA, Mahalo’s very own, Jason Calacanis and financial consultant Mike Patatian, lent their insights on the current economic situation.
Calacanis also dropped some highly anticipated info on the future of Mahalo and how the economic crisis has affected the state of his company. Being an outsider of Mahalo, Patatian provided his opinion on how individuals should react considering the market’s current state. He advised that investments are cyclical, there will always be new leadership in the market, and a new sector will always emerge. It is a phrase coined “From Rubble to Bubble.” The seeds of the current economic crisis were sown from the last economic boom, and right now the seeds for the next expansion are being planted. For an investor, they key is to look ahead, not look back.
Towards the end, a question came from the audience asking about the 2009 forecast and if there are any bright verticals or mini-niches to be on the watch for. Patatian jokingly commented on how people are taking their money out of mutual funds and putting it away in safes. It is a sector that is booming and they cannot keep enough inventory in stock. Calacanis recommended investing in yourself. For example, if you are a PHP developer, invest in becoming a better one.
In conclusion, look to the future, and if all else fails, invest in a safe.
To view the rest of “The Economy and You” hit the Jump.
Part 2
Part 3
Part 4
Part 5
