I hope you and the polar bear are safely ensconced in a comfortable den for a long hibernation because the market is looking pretty fragile.
The investment committee is debating the advisibility of rolling over the maturing T-bills for three months or six months and admits it doesn't have a clue if, or when to buy stocks. It doesn't think the market is acting like there is a bottom down there anywhere.
I personally am debating whether to find a high bridge or to connect a hose to my muffler and go the carbon monoxide route.
At least I don't own any WM or CFC. And I am comforted by not having to listen to people tell me that a housing recovery and new stock market highs are right around the corner. The quiet is kind of nice. Guess I'll try to soldier on to a brighter tomorrow. Maybe Jim Cramer will retire. Wouldn't that be a blessing to the world?
Near year end 1974 was the ideal time to be buying stocks. I don't know if you were into the stock market at that time, but I was, and although I didn't have much money at the time the next few years were highly profitable. I am now able to decree that there will be a recession in 2008. I don't know how deep or how long it will be but I think you can definitely count on the first half of the year to be slow and slower. Accordingly, I am convinced that we will have real opportunities to buy good value stocks at really low prices later this year. I am trying to be patient even if I don't have the ability to hibernate.
It's been amusing to watch "value" mgrs like Bill Nygr*n touting WM as some kind of great buy year after year, and people getting pulled in at hefty valuations, but never enough to actually run it up and let the touts cash in.
Is that the roaor of the ocean I hear, or the Flushing of 10,000 Toilets?
It is the toilets, but it is more like 1,000,000,000 of them.
I agree with you about WM. You could say the same thing about C and many others.
Have you noticed how ITIC stock is outperforming the other title insurance company stocks. Methinks the Fines and their company buying back the stock is holding the price up. However, I think ITIC is outperforming the other title companies in the business world as well. I am still waiting for lower prices or what seems to be a more auspicious time to buy.