The air bag has gone off in the past, now, and will again! With rumors of a possible Greek default as early as this weekend and the raised likelihood of a market crash, investors fear is palpable everywhere.
For those of you who have been wise (or lucky) enough to commit little capital and still have dry powder, our advice is to make a shopping list and place (silly) limit orders.
For illustrative purposes, here is mine which mostly includes companies in the pharmaceuticals, consumer staples, and energy sectors:
|Company||Buy Limit Order|
|Abbot Labs (NYSE:ABT)||$40|
|Philip Morris (NYSE:PM)||$50|
|Procter and Gamble (NYSE:PG)||$50|
|Colgate Palmolive (NYSE:CL)||$65|
If any of these orders get executed, you will end up buying great companies with solid operations and high dividend yields at fire discounts. You'll build a first rate portfolio that could make your friends, colleagues, and even Warren Buffett envious.
Disclosure: I am long ABT.