Re: Days Like This
Well a lot of folks thought the interest rate situation was already priced into the market.
I didnt really feel that strongly about it. Drops and jumps of 30% and less seem like a big fat so-what after the 1997-2003 ride.
I'll take up Buffets mantra on this: price drops are great things unless you're selling, and price jumps are bad news if you're buying.
I aint selling anything for at least a couple of years, if ever, so it can do what it wants.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.