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Categories: Stocks
Cheap stocks
I got a question. Since the stock market is doing so poorly (dow down nearly 778 points), would it be a good time to try to buy some cheap stocks. I know it might be risky, but if I were to invest in stocks, what type of companies should I look to invest in, or more specifically, what companies should I invest in?
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pbucelwicz
at 08:51am on Sep 30, 2008
Hey Branden. Thanks for stopping by.
Yesterday, before close, would have been a great day to buy into a mutual fund. Your order would have gone through today(9/30) and would have been at a large discount.
With steep downs there are steep rallies. Today might be a good day to make a quick buck. You would have to figure out if the gains are worth the transaction fees. Do you have a brokerage account setup?
I could not tell you which companies to invest in, but I would stick to companies you know. I stuck to tech stocks that I believe have a long future. Even though in a slow economy tech stocks are taking a big hit, I would still invest in those personally for a long holding period.
It appears to be a great time to invest for the long-term. Getting in now you will make up a lot of time in a rebound. The market could continue to fall if the house doesn’t come to an agreement soon.
History will show a rebound is a matter of when, not if. We just need to be patient.
sergik12
at 09:13am on Sep 30, 2008
I’m not going to be as bold and say that yesterday was a good time to buy a mutual fund only time will tell. Generally I’m bullish on the market and yesterday was a huge pull back in the market. Year to date SP500 is down 28% that is generally where the bear markets find their bottom but not always. If this is the bottom then you just made a good call by buying yesterday.
Generally speaking if you are a long term investor you should stick with what you know and look for value in the market. If there are stocks that you liked before but they were a bit expensive to get into I don’t see why you would stop liking them now. Do your homework first though and make sure your valuation assumptions haven’t changed.