I pulled out into cash in April 2007, seeing the top was pretty much in. I sold my house earlier in the year ready to come in hard.
I think this entire thing is a big beatup similar to Y2K. As if a few dud mortgages are going to destroy the world economy. A growth rate of 7-9% in China and India is hardly a worldwide recession. If we were going to have this, it would have happened in 1987 or 1997.
Now we are at a major growth stage in the world economy and this is a simple pullback, though it has been harder and deeper than I anticipated. All the better.
Yes you can pick the exact bottom - i did it to within 10 minutes on 21 November, bought $400k worth of stocks and ETOs (BHP and FMG) though I pulled out a little early on 25 Nov. But cant complain.
what the heck is happening, page-87
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Last
$41.98 |
Change
-0.510(1.20%) |
Mkt cap ! $212.9B | |||
| Open | High | Low | Value | Volume |
| $41.51 | $41.98 | $41.45 | $377.1M | 9.014M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $41.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $41.99 | 1547 | 3 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |