Early news of Carlyle Capitol's demise to -70% has affected world markets today.
I wish that I had more money to buy more stock! The over reaction to bad news has driven stock prices down, down and down further.
Great time to invest by getting good stocks very cheaply. Problem is, no one knows when the markets will stop dropping and start moving back upwards again. Japan suggests the U.S. will rebound from its ills late 2009 to early 2010. Others think end of 2008, while one man suggests March 21, 2008 will be the end of our problems.
I'm getting tired of people telling me that they've lost 30% or whatever. You don't loose unless the stock you hold looses everything or if you sell below your purchase price. If you own stock in good companies, the chance of loosing is minor. The down side however is the length of time you may have to wait to reach the break even point and then the profit point (positive sell price).
I've been up all night watching the market day in Asia. With more bad news on the way from the less than stellar U.S. market, I'm heading to my pillow for a nap before I go bike riding. No sense watching our market today!
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