| I remember, back in October 1998 (the last time things felt like they do now), there were some stocks that got unbelievably cheap, and a lot of people were saying, "there must be something very wrong with the company or industry, someone must know something really bad, or the stock wouldn't get this low". But it wasn't the stock, and it wasn't the industry. It was the market; it was the macro climate. Same thing today. At this point, I don't care how low we go, I will confidently buy and buy and buy some more, because I'm certain (and I'm certain about very, very few things) that the stock will be a lot higher in the future. It might take a year....or two..... but I will make a lot of money in this stock. The fact that the stock price is so low now, that one point is a 10% move, that means by lowering my average cost a little bit now, I increase my returns a huge % later. Let's say the stock is at 50 in 2005. An average cost of 10 means I can turn 100K into a half million. But, if I can get my average cost down to 5, I can turn 100k into a million. So, bring on the volatility. I hope it goes to 1. I'm buying, not selling, I want low prices, I want a selling panic. |
