Quote:
Originally Posted by Claeren
You (and this is directed at all of the perma-bulls around here who keep on going with the ' now it is time to buy buy buy, oh wait, no, noooow is the time to buy buy buy, oh wait...') might want to mention that you thought it was low a month ago when the iBanks started falling like dominos and the market had lost 15%.
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Since this shot was directed at me.... I have no idea where the market is going next. I never said I did. Yes I said it was low a month ago, and I was right. It was low. Lowest? I never said that. I never said it wouldn't go lower. In fact, as "low" as it is now (and is low), I still think it could drop more. The reason I'm advising people to buy now (not all at once, but with a DCA strategy) is because no one knows the bottom. When I say it's low, I'm comparing it to where I'm certain these investments will be 10, 20 and 30 years down the road. Let me guess that the average age on this site is 30s or so. I've said it before and I'll say it again: You guys should be all over this market like germs on a rat. I never said a month ago it was lowest. I said low, and there is a big difference. If you want to stay on the sidelines, go ahead. This is a marathon, not a sprint, and I know I'll win it. Most of those who stay on the sidelines will miss approx three quarters of the recovery. They'll buy in once most of the money's been made, buy near the peak, sell again in the depths, going back to GICs and missing their financial goals. Once we reach the low point, you'll never see those prices again. If I knew the low, that's when I'd be buying. I don't so I'll keep buying through the depths, and am advising my clients to do the same. BTW, so is Warren Buffett.
This guy gets it.
Quote:
Originally Posted by Finner
Buying is good advice. Most people shouldn't be in the market right now for quick gains, they should be in for years, especially the young ones that frequent this forum. For all the people that are down 40% in there portfolios they SHOULD be buying. Who cares where the bottom is, average down while you can, especially if the company has good fundamentals.
Based on common market fundamentals most stocks on the market right now are fantastically undervalued. Hell, based on technical analysis their should be a rally on tuesday. Yah you're right it might keep going to the bottom, but if you can't handle risk you shouldn't have bought in the first place. Markets correct...
In terms of blaming people on CP for other peoples losses, that is unbelievably stupid. If you are dumb enough to read some opinions on a forum, do absolutely NO research on your own, borrow money, invest it, and expect to make a quick profit then it's your own fault. You should be doing minimum 10-20 hours of research on each stock you intend to buy, unless you're a technical trader.
If you took some money after hearing that the markets are undervalued (maybe not at bottom) and bought some more stock to lower your ACB then thats great...markets go up and down.
Quit fear mongering .
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