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Is it time to starting investing in the market?

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News - Hugh's Views

Written by Hugh McManus

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What about jumping in and buying some companies right now? I am holding off on doing anything right now, as there is still craziness out there.  I am not sure if what I am watching is even rational.  This evening, it's starting to look like global credit is going to seize up again.  I have no idea why it's happening; it doesn't make sense.  Russia has closed its market, which means the one thing that people need to have to make a rational decision--a price--isn't available.  It looks like there is a lack of confidence in the pricing mechanism of assets--stocks included.  It would help to explain what's happening out there, why banks appear to prefer to sit on cash and why credit looks like it's grinding to a halt again.  It all hints at more volatility in equity markets and companies that are not part of the current crisis are getting caught up--at least their valuations are getting caught up--in this crisis.   I am sitting on the sidelines for now.  I do expect excellent bargains--for banks, they'll be once in a lifetime--but I am not looking to hit the bottom of the market; I want to wait until the insanity abates. < Prev   Next >