Wednesday, September 17, 2008

Have To Buy Something

It's bad. It's so bad out there that I just have to buy something tomorrow. Yes, market can go down 1000 points more. Sure. But you never know. The only thing I know for sure is that when market is down huge, you have to buy something. And if it's up huge, something has to be sold. That's how you make money in sideways market we are since March 2000.

What is on my radar: Raytheon (RTN), I wrote about it before (here). UUP: I have a small position and if it stays not much over 24, I'm adding to it. Brookfield Asset Management (BAM), I own a significant position, but price is way too low for a company which is profitable for the last 20+ years and pays good dividend. Banco Bradesco (BBD): own it too, Brazil isn't going anywhere. Indian Fund (IFN), own that one and India is still on the map, and Indian market is going to open up tomorrow. Last, but not least, is Altria (MO). What the hell, company is paying 6+% dividend and it increased dividend for the last 10 years!

Was way too busy with my job today. Again! Well, tomorrow is another day.

The fact that I'm buying tomorrow doesn't mean you have to. I always might be wrong.

I will not buy any Russian related equities. Russian government suspended market operations today and gave order to exchanges to take measures for market recovery. That's KGB thinking about market operations. I was wrong, just a little bit, about Russia here. You could get out until yesterday. Now time's up. Write down your investments in Russia. KGB owns the country and everything inside. Maybe Russian exchanges will open. Maybe. Good luck with it.

Full disclosure: at the time of publication author had long positions in BAM, BBD, IFN, MO and UUP, and no positions in other stocks mentioned. Positions can change any time.

Disclaimer: This article is not intended as an investment advice. Every person should make her/his own investment decisions based on all available information and advice from her/his own financial advisor.

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