Thursday, November 20, 2008

What a terrible call...

Well, I"ll be the first to admit that was the worst call i've ever made. Anyone who had the misfortune of buying into those stocks (like, oh i don't know, me...) is nursing some serious losses. Apparently a 6 or 7 p/e isn't *cheap* - now i'm not even sure a 2 or 3 P/E is cheap. Sell anything at any price...that seems to be the mantra of this market. I don't care what it is, just give me cash. Oh well, maybe one day sanity will return, or maybe these levels accurately reflect the coming recession. All I know is, there is a lot of fear in the stock market. If you have a long time horizon, get involved, otherwise it's like stepping in front of a train - the train is going to win.

Once I get up off the train tracks, I'll re-examine this market and try to make sense of it, but right now, the stock market is telling us this recession could be one of the worst on record. Let's just hope it's not a depression...

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