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Bearfund - well said. You a mutual fund guy? I've owned Prudent Bear Fund (BEARX) for a while, and added some Grizzly bear fund GRZZX last month.
Oct 25 22:22 pm
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All Comments by Sharp45 »The Recession Is Already Priced Into Stocks [View article]
Basehitz - keep in mind that SeekingAlpha and other sites do NOT reflect your average investor.
Every non-financial-junkie I talk to keeps repeating the mantra of "just hold on through times like these, my financial advisor told me this is actually the best time to buy!"
The vast, vast majority of America and the world still have no idea about the true scale of the crisis. Most of them stocks are cheap now, but it's just everyone getting scared and selling in a panic. Scared is right, but scared about earnings that are likely to nosedive.
I'm not covering or buying anything until I see some convincing signs that things are actually improving. "Stocks are cheap" doesn't do it for me. Bear markets (or depressions) usually overshoot to the downside. I don't think we're even at fair value yet, let alone have we overshot to the downside.