March 3, 2009

HOW LOW can the market go? We’ll see a few bear-market rallies, but I certainly have no reason to think it’s hit bottom. Of course, market bottoms are mostly visible in retrospect, but I’m not seeing many people who think it’s time to put money in. And, given current economic policies, I don’t know why anyone would.

UPDATE: A reader emails: “Isn’t this the definition of a bottom ?” Heh. Could be. Certainly with my investment history, if I call a bottom it won’t be, and vice versa!