Freeus:
For what it's worth, I've been thinking about you. Please remember this: If this market turns really sour, which it could in my opinion, you have an enormous opportunity in front of you.
In the last meaningful recession, 1990, C went to 8 bucks. There was a lot of talk about which banks were too big to fail, and so forth. Prince Alwaleed bin Talal, John Neff of Vanguard, and a bunch of other folks (excluding me, of course), bought the stock by the boatload and made a fortune.
Now, I'm not predicting that history will repeat itself. But Alan Greenspan is NOT going to bail out the Nasdaq. I mean, look at these $100 billion market-cap stocks that STILL have PE's near triple digits. And people have the audacity to moan about how bad the market is. Ridiculous.
Most of this technological revolution in the last two years has simply been silliness, in my opinion, and the market is validating that view.
I hate to say it, but I got really tired of hearing people say, "Buy such and such, because it's a gorilla." How many of those stocks are now 50 percent or more off their highs? Most. And the ones that aren't are headed in that direction.
Just watch. We basically know who the winners over the next few years are going to be. How low will QCOM go? How about JNPR? or JDSU? or NTAP? I see Bank of America on the new lows list. I see Sony on the new lows list. How low will they go? Would you give 20 bucks for Sony? GE is beginning to crack, so how far down is down on that one?
Be patient. This will take time. But wonderful opportunities will emerge.
PB |
