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Articles like this are the usual that have made me money in the past. People like this "wait for signs of a bottom" in all sectors, and the market in general. Well, it's been proven a million times: there are no signs. If you wait for signs, you are way too late. That's why investors buy at too high prices.
Apr 05 07:31 am
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All Comments by karchad »Why I Bought the Ultrashort Financial Sector ETF [View article]
The best one can do is wait for the market to drop 20%, and BUY. If it drops another 20%, BUY AGAIN. The trick is simple. Buy at low prices. Period. And you know darned well, especially for financial, these are darned low prices. The lowest? Who knows? I don't, you don't, and this writer "don't".
I'm long financials, and long homebuiders. I'm up 19% in 6 months on homebuilders (not annualized, actual 19%). While the experts "wait for signs", I'll make long-term money the only way there is. The rest of you can keep timing the market. I have something stronger: patience.
I think the writer and commenters here are so way off. I've been investing for 40 years like this, and i'm wealthy because of it, without "waiting for signs".