“The market may be bad, but I slept like a baby last night. I woke up every hour and cried.” Thus goes an old stock market joke.
I’m sure this is what most business channel anchors and experts also imply when they ask you, the investor, to hold your nerves while stock prices are falling.
“Use the crash to invest for the long term,” I heard the analyst say in an interview yesterday.
“The Sensex has crashed. Stocks are hitting new lows,” he said. “The overall mood is that of extreme pessimism. Great! This is just the opportunity that long term investors must look out for!”
“Wow! What a smart man he is,” I would’ve said if I didn’t know the real intention behind his positive outlook.
“But isn’t he really smart?” asked my friend Ravi who came to my house because his cable service provider had stopped showing business channels.
[Read more…] about Sensex at 16,000! Great Time to Buy Stocks?