Today, market is down again. Everybody feels like it is end of the world. Damn. It feels like early 2009 again. Call me sadist if you like. But, all of us may be given a second chance to collect value stocks at early 2009 prices soon. Twice in 3 years. Will most shares fall to single P/E level? Will some good stocks fall below their intrinsic values or even below their cash values? Not sure. But, it is worthed waiting.
The Greed index is now 26 or so. It was close to 70 early this year and it fell to 15 or so during the last great financial crisis in 2008-9. We are not there yet but we are close.
It feels like fishing. Throw in the bait and wait for the fish to bite. Patience and I think we need lots of it.
Disclaimer: The content in this blog contains purely my personal opinion and it is in no way a substitute for professional financial advice. You should seek advice from a professional financial advisor with any question regarding your financial matters.
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