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Attention Investors: Survivalists hit the headlines

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News - Hugh's Views

Written by Hugh McManus

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The media announced we were in a recession months ago; the stock market has turned anemic; we've been led to believe that the banking industry is near collapse, is it a good time to buy?  Are we at a bottom?  It's always hard to tell; in fact, the only way to know for sure that we've hit a market bottom is from the comfortable vantage point of a few years in the future.  However, there is one hopeful sign: Nightline--the late night news behemoth on ABC--has run a story on the increase in the number of survivalists.  Convinced that things will get so bad that modern civilization will collapse, a small minority of people hurriedly train and prepare for the worst.  I see this movement as a good sign for investors--long term investors; the growing number of pessimists is a sign that we're getting closer to a turnaround.  What if they're right and the financial system collapses?  Well, it doesn't matter, does it?  What if they're wrong?  I guess that since they weren't around 60 million years ago when the big meteorite hit, they've always been wrong about earth-shattering catastrophes; I'd bet on things getting better.  It's time to build a portfolio, not a bunker. < Prev   Next >