Jurgis, Jim Clarke. Well, I agree with Jim C. in that I'm not seeing or experiencing "compelling" buys. Which is a surprise to me. I would've expected lots by this time.
But my view is very much different from your perception, Jurgis, that "everything's so overpriced,that I did not find anything to buy after this 30% drop."
(Assuming we're talking about value-type stocks.)
There are still many, many good value stocks out there that could be bought now, and possibly should be now by value players. Although of course, it's definitional also-- how we each define "value stock" or "compelling". Still, if you are able to find and read the newest (4/13) issue of Barron's, there are now articles mentioning the "undervalued-ness" of stocks that have been discussed on this thread several times. For example, a full article devoted to Fleetwood Enterprises (and mentioning some mobile home competitors like Oakwood, et. al.), valuation estimates for American Airlines, and some others. (aside: I have a tiny position in AMR, and added to FLE recently).
Jim, if I understand what you are saying, you are looking at a bottom kind of signal when companies are being bought for cash or by insiders. I don't exactly see that happening now, but I do see quite of bit more consolidation (buyouts for stock or combo stock/cash) in a couple of industries. This would be food especially. Also building supplies and some insurance. Perhaps a tad with home builders. I take all this as a positive sign. JMO.
Paul |
