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Article: INVESTMENT TRENDS; Money manager sees financial system on the mend
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- May 12, 2008
- Author:
CopyrightCopyright 2008 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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March 16 was a critical day for investors, says one Milwaukee-
area money manager.
That's the day the Federal Reserve said it would extend a $30
billion credit line to JPMorgan Chase & Co. to help it buy rival
Bear Stearns Cos. The Fed's move provided a "desperately needed
backstop" for a financial system that had been in crisis for the
last eight months, said Christopher J. Grant, managing partner and
portfolio manager at Grant, Koehler & Levin Ltd. in Mequon.
It also represented a potentially huge change in direction, Grant
said.
That's the kind of game-changing event Grant says investors
should be looking for. There are dramatic ones like Bear Stearns and
less major events -- like the ...