Again, I must say I told you so. I'm no guru when it comes to investing but you just have to know that when prices are low, that's the time to buy. The following is a quote from an investment advisory but I forget which one: "The stock market is presenting you with one of the great buying opportunities of your lifetime – perhaps the greatest. Stop trying to pick the bottom." That's what 41-year market veteran Steve Leuthold, of the Leuthold Group, just told his clients. "The most difficult decision is not what to buy," he says. "Just buy!" Leuthold is one of our favorites, primarily because he doesn't follow the crowd... even when it's to the detriment of his own business. For example, for much of the last decade, he's been bearish on stocks. Clients don't line up to give you money when you're bearish. But Steve launched the Leuthold Grizzly Fund in June 2000, near the top of the stock market bubble. The Grizzly Fund is up nearly 80% this year. He was right to be bearish this decade. As he told his clients, stocks lost as much over the last 10 years as they did from 1929 to 1939, which was "the worst 10-year performance in U.S. stock market history. " Also, if you must be certain, observe hemlines - they're not coming down so that means the stock market is gearing up for a spectacular rise. Need I say more???
Posts
