October 8, 2008
Buy? Not Just Yet: Captain Capitalism sez The Stock Market is About Where It Should Be"You should not be loading up on stocks now, because you’d be paying the historically average price of a stock which is $16 in stock price for each $1 in earnings. You’re not getting a deal, you’re paying retail. People should wait for the market to REALLY go on sale, and with a recession guaranteed, it’s almost a surety it will. You laugh at Cramer suggesting a 7,700 Dow, just like my big time former employers laughed at me when I said there was a housing bubble (and an Asian currency crisis and a Dotcom Bubble), but you might just want to (for a change) listen."
Posted by Vanderleun at October 8, 2008 11:27 AM. This is an entry on the sideblog of American Digest: Check it out.