In the old cliche, Ron, it's a market of stocks, not a stock market. Even on Black Monday in October, 1987, a few stocks went up. In a falling market, rapidly rising sales and earnings will stand out like a sore thumb--GRNO may fare even better in such circumstances than in a raging bull market led by the safest and most secure of the big cap blue chips. By the way, when I do investment opportunity comparisons, I use as a safe discount rate not the T-bill rate but the total return 10% that you are virtually guaranteed over time in the big blue chips.
=+=+=Norm
PS--Brenda, who's reading over my shoulder, asked me to suggest to you that if you are in for the long haul, the shorter-term vagaries of the overall market are of virutally no importance (Brenda's ideal model is that of a casual acquaintance, Warren Buffet [like us, a tournament bridge player], modified by some of the ideas of The Motley Fool). So she looks primarily at the company, rather than the market. "If you really believe in the company," she says, "all you are looking for in the stock price is a good buying opportunity. The ideal is to buy a good undervalued company in a falling market." |
