Saturday, October 18, 2008

Economy's Getting Tougher

The market has been taking it hard the last few weeks. Obviously, the banks are hurting which doesn't help Experian, but to Experian's credit the last few years they have engaged in some very smart acquisitions that broadened their markets, geographical reach, and enhanced their data assets. This will serve them well over the next few years.
The market has made money tight in the company. Chris and I are trying to get the company to adopt a social networking platform. I think we built alot of support for the initiative, but we need to find a way through the belt-tightening to get the final approval. Belt tightening also affected our plans for the Synergy & Innnovation group. We had a grand vision to fuel our cross-business unit innovation, but budget cut into that idea. The good news is that our leader has given us his vision for the group, so we can charge right at making it a reality.
I hope my family member's retirement funds are alright in this down-market. If you are still in stocks, no matter how nervous you get, don't hide your investments in cash or gold. The market has dropped almost 50% from its last peak, so buy low. Buy and forget about it, don't read about the market, just tune it all out and revisit your portfolio in 5 yrs. If you are retiring before then, you should have already had your money in low-risk investments, so stay the course and enjoy retirement.