U.S. Economy Has Fallen off a Cliff?
Warren Buffett does have an interesting turn of phrase, but that is the quote attributed to him, that the U.S. Economy has “… fallen off a cliff…” but he does think that things will be just fine (eventually). I guess stating the obvious is the only thing left for pundits and commentators (and financial bloggers) can do.
Mr. Buffett’s statement, while correct, is a little like telling me that I can’t dunk a basketball any more (i.e. it’s painfully obvious that skill left me about 30 years ago (and even then it was a fleeting skill)).
Is there a bottom in sight?
Not this week is the guess I have, with the nay sayers and gloom and doomers out in full force, I suspect this week is going to be another bear week on the markets which just adds more gasoline to the already raging economic apocalypse bon fire.
When to buy is the only question now, because so many stocks seem at bargain prices, but why buy now, if they are going to drop another 10%? You never do find out whether you made a good buy, until you actually sell the stock.
Just Don’t Look?
That is advice I have heard is if you feel confident in the stocks or indexes you hold, just don’t look, put the stock ticker down and simply wait for the recovery (whenever that may be). Given it is procrastination week, that might be a good idea, there is not much that can be done until a bottom is found, just wait for the bottom, buy some bargains and sit back again?
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March 10th, 2009 at 8:11 AM
It looks like there are still a lot of imbalances in the system that need to be corrected, if the government allows them to get flushed out. We’ve been carrying those issues around for a while.
http://www.ritholtz.com/blog/2009/03/restoring-the-imbalance/
March 11th, 2009 at 6:36 AM
[...] yesterday’s post where I said nothing good was going to happen this week? Well as usual, off by a mile, a sudden [...]