Use this as an opportunity to buy quality stocksI told you a couple of months ago that coronavirus would have a deep impact on global GDP. I was mocked and ridiculed. I told you energy stocks would be most affected. That was met with even more mocking and ridicule. I told you VET had an unsustainable dividend that needed to be significantly cut and a mess of a balance sheet. A bunch here had me shut down from posting for a week for emphasizing that.
So I have been 100% spot on. I also have been telling people to keep money in the sidelines to avoid investment losses and to use this as an investment opportunity at the right time. On Wednesday of last week I said the opportunity has now come and to systematically invest in the market over the next 7-10 trading days. I still stand by this.
The hysteria has gone beyond beyond my wildest dreams and I expected a lot of hysteria. I defy anyone to demonstrate how coronavirus numbers are worse than the seasonal flu. But the extreme overreaction is what it is. Never underestimate the stupidity of politicians and bureaucrats. And never underestimate the stupidity of people to give politicians and bureaucrats too much power to do too much and wreak havoc.
Hopefully you heeded my earlier advice and have plenty of dry powder. As I told you earlier, buy quality companies with excellent balance sheets. VET is not one of them. MX is my personal favorite.
JMHO. GLTA.