The day's economic coverage did not stop there. CNBC's automotive correspondent Philip LeBeau filed from Detroit on the white-collar cuts at General Motors in its bid to raise $15bn in capital to stave of bankruptcy. Company retirees who once held salaried positions had their supplemental healthcare coverage canceled. ABC filed a two-parter on personal financial planning in these turbulent times. David Muir (embargoed link) asked professional advisors about their clients' key concerns. No surprise, bottom line worry: "Is my money safe?" Anchor Charles Gibson followed up with a roundtable discussion: pension expert Anne Matthias of the Stanford Group; economist Louis Alexander of Citigroup; advisor Mellody Hobson of Ariel Investments.
Hobson was a longtime contributor for Gibson during his tenure at Good Morning America. She had the most extreme advice of the trio, namely that viewers might emulate the late Sir John Templeton "one of the greatest investors of all time" who showed "enormous courage" in the middle of World War II when he purchased every issue on the New York Stock Exchange with a price of $1 or less. "You buy at the point of maximum pessimism," was Hobson's maxim.
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.