Signing Off

“Has the world really gotten 10, 12, 15 percent worse in the last 48 hours? I don’t think so, Buying stocks at today’s prices over a couple of years’ time period will prove to be a uniquely rewarding experience.

-Billionaire Wilbur Ross

Hopefully Wilbur Ross will be proven correct. I am off to a funeral. Good luck. I will be back in tomorrow morning.


Onlooker from Troy said...

Not that I don't think that this sell off has been overdone, at least in the short term.  But that kind of quote has always rubbed me the wrong way.  It assumes that things were fairly priced to start, which is a specious claim, IMO.  I'm more inclined to agree with Grantham and Hussman about the long term valuations of stocks on the whole right here.

That said, there were no doubt some babies thrown out with the bath water, and thus some good deals to be found.

Tsachy Mishal said...

He likely means he is finding some bargains.I think even Grantham and Hussmans believe large cap quality stocks are fairly valued.

Tsachy Mishal said...

As a matter of fact GMO said they were a modest buyer today for the first time since 2009

Onlooker from Troy said...

Please don't misunderstand me.  As I said, there were no doubt some values out there.  I did some buying too.  I  just think that the quote is a silly one.  As it assumes that the market is efficiently priced on a daily basis.