Oct 8, 2008

Cash under the mattress

I could not resist posting a note about the safety of cash under a mattress in this fear/panic situation in the stock markets. Clearly many, many people have been planning for this situation as you can see from Sealy's earnings
Sealy Corp. (ZZ US): The world's largest bedding manufacturer reported third-quarter sales of $405 million, topping the average analyst estimate by 3.9 percent, according to a Bloomberg survey. The stock fell 18 percent to $4.05 in regular trading. Source
Have you bought your mattress yet? Buy it on credit and keep cash under it. Just kidding. I am not giving you any type of stock advice without charging money, so no stock advice today kids.
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