I am going to forgo making stock picks going forward – until Mr. Market decides to present us we some compelling opportunities.
It does not make sense for me to continually issue stock picks I am not willing to make myself. Hopefully this will be a short strike – as I have suggested previously, this would be a good time to be holding some cash – and practicing patience.
I just don’t see enough upside potential in most of the areas I usually fish – but lots of downside given the extreme valuations the Federal Reserve has created in both stocks and bonds.
What to do while you are practicing patience? I suggest reading a good book. I have been reading a great one – and will have a review out soon:
[AMAZONPRODUCTS asin=”1522733019″]
Here is a quote from the book:
“The crowd has a tendency for extremes. It is often tormented by fear, selling stocks that are already cheap. Or it is propelled by greed, buying stocks that are already expensive. Both scenarios offer great opportunities. The first one lets us buy at great prices, as we could during the 2008– 2009 Financial Crisis, and the second one should have been a red flag to avoid the madness of crowd, take gains, and walk away, like the peak of the Internet Bubble in 2000.”
Highly recommended.
Leave a Reply