Quickthink

Image from the October 6th  New Yorker. 

Roller coaster rides are the most intense when you are hurtling downward. One gets a similar feeling watching stock prices over the last week. NYT is using the “p” word (panic). Bloomberg notes that promises of rate cuts had no effect on the stock market. I remember (and not long ago) Fred Wilson at A VC recommending a Google buy if the price went down to $400 per share. It is now trading in the $350 range. Tech Crunch gives some nice arguments why it is now a good buy, even in a recessionary climate. Fred is even more optimistic, arguing that there are a number of very nice companies for sale — if you happen to have a few billion on hand.

I am not sure that the moment is right just yet to plunge into the market this way. But there is little doubt that that moment is coming. Some big boys (as Warren Buffet already did) will step up to the plate and start buying a hell of a lot of stock.

FOLLOW - October 12th - NYT article suggests that now is the opportunity of a lifetime to buy shares.

This entry was posted on Wednesday, October 8th, 2008 at 6:49 am and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.