Attention Investors: Survivalists hit the headlines |
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.
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