...if you are selling stocks right now.
Okay, perhaps that's a bit harsh. Even unfair. But trust me when I say it's also the reality.
The fact is that if you have taken a recent look at your 401k balance, and if you have evaluated any portion of even your personal portfolio of late, you will have found there to be a stark and dismal contrast between what you had a year ago, compared to what you have now. It's a fantastically scary realization indeed.
It seems only logical to most people that when the money runs away, so should you. But not so fast.
Yes, I know. I've talked about this before. I'm beating a dead horse. Allow me to beat it deader.
Even Warren Buffet, the wizard of stock land, more commonly known as The Oracle of Omaha, is losing his behind grandly. If anyone ought to be sweating bullets it most certainly ought to be the richest man in the world.
But instead Warren's buying right now. In fact, he's been mainly cash in his personal holdings for years. The mere fact that he's exchanging his cash for securities in this of all markets, says quite a lot. Buffet is no dummy when it comes to making money. He knows that stocks are terribly cheap right now. He also knows that this dark and dreary market will not last forever. According to history, the best time to buy the market is directly after it reaches its bottom. We may have seen that bottom October 10th.
The consensus seems to be sell, sell, sell. Certainly the massive dips in the Dow attest to that. I strongly feel that if you take a contrarian approach and buy this market you stand to make a killing. In an earlier blog I wrote, "this, the great economic crisis of 2008, will have historically proven to have made the riches of those who dared to proceed contrary to the current sentiment." I stand by that logic.
Some stocks I like right now include Waterstone Financial (WSBF), JPMorgan Chase & Co. (JPM), McDonald's Corp. (MCD), Marcus Corporation (MCS), World Wrestling Entertainment (WWE), Marathon Oil Corp. (MRO), and Fomento Economico Mexicano SAB DE CV (FMX). Twelve months from now I think all of them will be up considerably. And in the interest of full disclosure, I own all of these stocks except for WWE, which I will be buying Monday or Tuesday depending on trading.
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