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Here's what I'm doing . . .

Here’s what I’m doing: Steve Forbes

Marketplace Staff Oct 27, 2008
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Here's what I'm doing . . .

Here’s what I’m doing: Steve Forbes

Marketplace Staff Oct 27, 2008
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TEXT OF STORY

Bill Radke: We’re asking people from all walks of life how they’re coping with the financial crisis. Now we continue this series “Here’s What I’m Doing.”


Steve Forbes: I’m Steve Forbes, chairman and chief executive officer of Forbes Media and editor-in-chief of Forbes Magazine.

What am I doing with my money now, is just examining in terms of equities — is this where I want to stay? Does this have real prospects in the future? And which companies are likely to prosper, or at least survive the turbulence we see short-term.

I remember living through the 1970’s, when the stock market in real terms went down, where the future looked bleak. But this country always comes back.

In terms of financial assets, if you’re in the market, you will take a hit. And you just have to remind yourself emotions are your enemy. But this is not the time to bailout — the government is now doing some sensible things to get these things back on their feet, and so you don’t have the panic you had a few weeks ago, where you wondered, where is a safe place to keep my cash? Even if you keep it at home, maybe the mice will eat it. Not the kind of panic that you had, sheer panic. We’re over that.

Radke: Steve Forbes is a former Republican Presidential Candidate. He’s editor-in-chief of Forbes Magazine.

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