Among the loose change, kids' construction paper and empty CD cases in a desk drawer I emptied recently, I came across a Kiplinger's from February 2007. I shook my head with a resigned smirk as I flipped through it. Some information holds true (nuclear power investments look promising), but much does not (residential and commercial real estate continue their stratospheric climb).
It got me thinking about last year's Forward Thinking Five and the updates on their 2008 predictions, which we included in our October issue. While all foresaw a tough road ahead, none, as Oppenheimer CEO John Murphy expressed, "thought it would ever come to this." We were able to speak with AIG's Larry Roth right before it all went to hell in September. Haven't heard from him since.
Which -- truth be told - makes this year's FT5 all the more fascinating. We include industry giants who guessed right about so much that has gone wrong lately, and believe from their sober analysis and cool logic that they'll guess right again. People like Peter Wallison, whose Fannie and Freddie warnings went unheeded for 10 years. What he predicted is exactly what has happened. Or Chip Roame, whose careful and objective analysis is literally the lifeblood of his business.
They have answers to many of your boomer clients' questions. And with 2009 shaping up to be a year unlike any we've ever seen (dangerous words, I know) their outlook will help you sleep better at night, if you're sleeping at all. We refer to them as industry leaders for a reason, and will gladly rely on their guidance in the weeks and months ahead.