Let's put everything into perspective (Dow bear markets). S&P 500 prices declined over 20% in one month, after a pretty steady wave down since last fall (45% to be exact). That's almost a halving. Do I think the business world is that dark. No. Have some names been beaten down relentlessly despite producing must use products and generating steady income streams? Yes. I decided on Friday to wade into some individual stocks and next week, I will pull the trigger on some more. If we have a rally, I'll wait that out for the next leg down. Oh, there will be one more.
1. I'm 28, so I got a long time to ride this rollercoaster.
2. My wife and I have plenty of cash saved up for rainy days.
3. The crash of the last week is almost unprecedented. They keep saying "worst week ever". Sign me up.
4. I have not touched a bank or consumer/discretionary goods company... and I will not since I don't feel comfortable with banks and feel the consumer spending recession has only just begun.
5. Jim Cramer says sell and stay away from the market. Yup, that's a contrarian sign.
and most importantly...
6. If we do head to Great Depression v.2.0, then this will not matter as there will be bigger worries for everyone.