Market particpants have been demonstrating a very short-term persepctive. That makes sense since the short-term matters a lot right now. The bank rescue plan and fiscal legislation being presented this week will have a significant impact on the course of the market and economy in the coming quarters.
While it is easy to get caught up in the short-term news and events of the financial crisis and recession, a long-term perspective can be helpful during these trying times. The next 10 days or 10 weeks (or even months) might be difficult to predict with a high degree of accuracy. However, taking a step back and looking out over the next 10 years, we may be able to see more clearly where returns may be headed.
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