Bill, re BA, did you hear they announced a buyback of up to 15% of outstanding shares? Don't know how wise it would be to spend all their cash (and then some) to buy back stock when they are losing money and we may be headed for a recession, but it was good for a couple points in after hours. Expect more buyback announcements as is usual when the market melts down. The companies don't have to buy all they say they might, but it usually provides a bit of reassurance that can help to calm investors in not just those stocks.
Anyway, I wouldn't advocate going on a wild and indiscriminate buying spree by any means. However, if the economic outlook is not as scary as today made it seem, there are incredible bargains out there, especially in small/micro cap stocks.
BTW, my time horizon is a bit shorter than your son's, but not by a lot. Only selective buying for the long-term and maybe try to catch a bouncing cat or two. Might be worth trying to soak up some time premium implicit in the VIX of 48 too - have to give that some thought.
Regards,
Bob
PS: 4200? Are you kidding? I must respectfully disagree and, unless I have to sell it to buy food, will mortgage the house to buy everything I can at 6000. Are you expecting Armageddon or just a depression and lengthy land war in Asia? ;-) |
