The Best Stocks For 2008
We'll say this for the U.S. economy: It can take a punch.
Consider the blows it has absorbed just this year. The worst real estate crash since the Great Depression. Pow! Oil prices up from $50 to $90 a barrel since last January. Bam! A subprime mortgage mess metastasizing into a full-blown credit crisis, with banks swallowing billions in losses and cutting back on loans. Baff!
Yet through all the punishment, the economy has barely flinched. "I'm floored by how resilient it has been," says veteran stock strategist Ed Yardeni of Oak Associates. "Had you told me at the beginning of the year this was going to happen, I doubt I would have been very optimistic."