Phil Cannella Addresses Stock Market “Corrections”

Phil Cannella has said again and again that the mainstream media has a vested interest in the stock market and it is unlikely that any investor is going to get the real truth about the market listening to the mainstream media machine that day in and day out are doing their part to paint a rosier picture of the market than what truly is.

“Why should they?” asks Cannella. With most media companies, themselves owned by publicly traded conglomerates, it hurts their own bottom line when investors leave the market looking for alternative forms of investment vehicles.

This is why Phil Cannella created Retirement Media Inc. He wanted to bring truth to the American retiree, unclouded and without the lies. To that end, let’s talk about the real numbers plaguing our current economy. Authorities keep trying to tell us that we are not really in “correction” territory and that the economy is still on a strong footing and about to go back to its former highs and beyond. Yet here is what one accurate media source had to say:

“While the biggest downdraft for the S&P 500 was 12.4% from its peak on Aug. 25 — far below the 20% bear market threshold — the pain inside the index of 500 stocks was far greater at the individual stock level. At Monday’s [September 28] close, the most recent low point for the broad market gauge, 253 stocks, or more than half of the companies in S&P 500, were down more than 20% from their highs, according to S&P Capital IQ. That means that half of the index components are already in bear-market territory.” – USA Today

Phil Cannella says we cannot ignore the facts. Now is time to act and protect what one has worked so hard for all one’s life.

About Phil Cannella

Head Analyst with First Senior Financial Group