Herding Money?
Kelly Wallace is a CBS News correspondent based in New York.
When producer Melissa Smith first mentioned the idea of doing a story on how more and more people, anxious about the stock market’s daily gyrations, are kissing their stocks and bonds goodbye and saying hello to unconventional investments, like alpacas, comic books and wine, I kind of thought these folks might be a little crazy. I mean, alpacas? How could the llama-like creatures possibly be profitable? And is it really wise to turn your back on your 401k and a market which, over the long run, traditionally brings in a positive return?
I don’t have the answers to all of those questions, but after doing the story for tonight’s CBS Evening News with Katie Couric, I admit I did wonder if breeding alpacas could turn me into a millionaire. No, I’m not entirely serious, but meeting Peggy Parks, who started investing in alpacas a year ago, did get me thinking.
(AP)
I don’t have the answers to all of those questions, but after doing the story for tonight’s CBS Evening News with Katie Couric, I admit I did wonder if breeding alpacas could turn me into a millionaire. No, I’m not entirely serious, but meeting Peggy Parks, who started investing in alpacas a year ago, did get me thinking.
Author Thomas Friedman on Obama's Afghanistan plan and the war on terror.
