Sunday, November 30, 2008

Bottom


This quote is from some publication - don't ask me which one - maybe Yahoo. "I don't think anyone can say we've reached the bottom yet," said Chuck Gabriel, managing director of Capital Alpha Partners in Washington. "It's going to be a very gloomy Christmas." Kim Caughey, equity research analyst at Fort Pitt Capital Group in Pittsburgh, said that "for investors to get more confidence, we need to know details" of the new administration's plans to handle the crisis. "There's been a vacuum of leadership" she added, "and when that happens, you get fear and rumors, and then people sell." It came from about two weeks ago. These people know nothing. They panic just like everyone else. Even their guesses are half-hearted. They are too scared to stick their necks out and say something concrete. I think what I said was that the market had already hit bottom - it's time to start buying. You can have a different opinion, of course, but at least state it - don't be a marshmallow when you talk - please.