Is it about “when we hit the bottom”
A story from Sunday in the Vancouver province, besides having some errors is maybe focussing on the wrong point. Is it really about when the bottom is? Quite frankly know one knows when the actual bottom will be, and furthermore even when we are at the bottom people will miss opportunity because as the markets rise, people will think “it is only temporary so it will drop” and this will delay most people to jump back in.I think it is more about whether you are looking for short term “get rich quick” stocks or are you a long term investor? If you are long term investor then already today there are some great buys. Many companies are trading at below the amount of cash they have in the bank. I could certainly go on, let’s switch to the housing market.If you wish to buy a new home, then now is a great time because you have choice and you have unprecedented discounting going on, when those existing inventory homes, or those lots currently in a builders inventory are gone or substantially lower then the rices will rise. New home are now being sold well under the market.As for the errors in the story, the writer states that stocks have not been this low since the 80’s. He may be singling out certain stocks, not sure, he was not clear but if you are talking about the overall market the prices are down to 2003 levels. Sadly this downturn has erased over four years of value but smart money will see these returns come back with a vengeance when we come out the other side.
