The people are fearful.
Okay so imagine a year ago I told you that you could pick up quality stocks below book value or that stocks like Bank of Montreal have a dividend yield of over 10%. What would you say? You'd probably say that these stocks are damn cheap. Why is it that with all the good stocks are being thrown out with the bad water, suddenly the markets are acting irrationally? Everyone is getting out of the market right now but doesn't that go against the whole buy low sell high philosophy? Sounds to me like people are letting their emotions get the better of them. Have we seen the bottom? I don't know. Are we near the bottom? I don't know. Thing is there are tons of stocks that seem to be priced in the crapper. It's not rational. Sure there's short term volatility but I'm positive that 10-15 years from now we'll look back at this time as the best time to be buying stocks. You can sell if you want to. It's your money.