Apparently our billionaire friend Warren Buffet is about the only one who thinks the market has bottomed, saying that now is the time to buy because stocks are going to roar back in the next 12 months. While obviously he didn't become a billionaire by being stupid, I just don't see it. In my view there are just way too many factors working against the market right now, but hey who are you going to believe: Me or a billionaire, LOL. But from most of what I have read, it sounds like the worst phase may come sometime next year when the deflationary cycle ends and the USD crashes (not to mention more bank failures, and probable auto maker bankruptcies like GM and Chrysler). The dollar will probably continue to rise for a few more months, but at a certain point it has to fall. And when it does, look out below...
But still, if Buffet is right then I guess I'll have to tip my hat off to the man. But I also wonder if he really feels that way or if he's just making those comments as part of a personal agenda...who knows. Like you, I think I'll wait a while longer before buying anything more.
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