Paul -- re ruminations
"...but the good stocks go on sale much less frequently, it appears to me...."
I agree with this point. In the past couple of weeks, however, I have had some luck with -- what I consider quality companies! (subject to my interpretation, of course :) ). I've bought AIG in the $52 range, PEP in the $36 range, PFE in the $28.50 range, WL in the $26 range, CINF in the low $30's range. I was very comfortable with these companies, know them well, sit & collect the dividends, and did not have any second thoughts about buying these companies. They, amongst almost every other company in recent days, have had a tremendous run.
I have had, over the years, better luck waiting for the quality companies to reach reasonable (not dirt cheap but trading at realistic P/E levels) prices and buy. When I go for the cheap companies, they typically get cheaper and it gets a little frustrating. This, however, does limit my chance for the big pay day. My sleeping patterns have improved though.
Good to hear from you. |
