A few days ago I asked you what stock you would want to buy at rock bottom prices were you able to buy it at the absolute bottom with no fear of further declines. While I didn’t get as much participation as I would have liked for the sample size, one interesting conclusion came about regarding my readers sector of choice. Over 90% of the picks were in the commodity sector which has suffered some of the biggest declines as of late. While I do think this sector will have it’s day in the sun I think it’s important to wait for the entire sector to give the all lights go signal before getting in.
You never can be too prepared, so in the event that we do have another crash waiting in the wings and I was looking to scoop up some bargains, I’d start in the following stocks. Now I’m not turning into an investor, but if we do get a once in a lifetime opportunity to pick up bargains, then I want to designate a portion of my portfolio in longer term assets. The problem is for me to see value I feel it’s about 2000 points below where were at now, possibly more. I still can’t shake this feeling that we have a 20% down intraday decline in the works to scare the bejesus out of everybody.
MCD MO KO CAT K PG DE MMM ADM CL COST JNJ GIS
Canadian Companies: LULU THI ROG
Anybody have any other suggestions?
The idea is to buy safe “Buffet” type stock in companies whose business models are sound. I’d like to add AAPL and GOOG to the list, but that would be more of a judgement call at that time.
