Ok, I hesitate to write this one because I believe that the economy is still heading down and we are on the verge of a global depression.
The stock market has just reached near its 10-year low and I believe this mark is roughly the floor. That is not to say that the market won’t test this bottom again and that we are going to have years of, on average, a flat return.
I’m going to buy now.
There are global stimulus efforts afoot, which will create a temporary boost, and there will be opportunities for both active trading gains and, if you’ve got thirty or forty years, tremendous long-term returns.
This is a dark moment. Maybe the darkest yet.
That’s the time to buy. Just don’t do it if you need the money soon and/or can’t stomach the roller coaster. I also warn you that I, like everyone else, have no idea what’s going to happen. I’m going on gut and a sense that you stay calm when everyone else is panicking.
Remember, Cassandra was right.
In this case, I’m just betting – and it is a bet – that I can make money while she screams.