Mat,
Correct on Schmidt, 900,000 shares is great, especially f he put up his own money. But a market purchase will really make a statement to the marketplace. Let's hope he has the good sense to do that. And not just a token buy.
Yup, there were plenty of places to make money during the big bear markets. But it sure wasn't in mutual funds. They get destroyed in long downturns, or even sideways markets.
Value, value, value. And best to buy during panic selling, when your broker calls to say "let's sell and stand back and watch a while".
People really should be lightly invested, and in value plays today. But alas, that isn't the case. Index funds it is. Guess what's going to kill everyone in the next downturn? It should feed on itself when people start pulling money out. The 1968-74 experience, on a scale that no one will believe. I hate to sound so negative, but why will it not happen this time? Mania's always go to extremes, but valuations always return to reasonable levels, that fundamentals can support.
Oh well, Dwight |
