Hi interesting comments - I disagree with 2000 on the ASX.
I also disagree with the fear inducing - uncharted territory comments.
Look to the past - every financial crisis that has occurred has been labelled "uncharted territory". Never happened before, and typically they havent. Often stated we cant anticipate the bear because of new financial instruments and globally linked economies....blah blah.
Prior crashes, economies werent so linked and still markets followed the US - markets have always been linked. Every crash involves a bubble with new finnacial instruments poorly regulated.
I've posted this before but look at the savings and loan crisis in the 80's and 90's - 2412 failures of banks and institutes over a number of years. The "Fininacial markets" were declared on the brink of collapse - they didnt - FDIC bailed out the depositors.
This all came from poor lending during a real estate boom - sound familiar (Yes lots of other causes). Resulted in a 2 year recession - media calling for a 1929 depression - mmm sound familiar.
Im not saying that our situation now is an exact repeat of the the S&L crisis though there are a number similarities - my point is the it was uncharted territory - loads of fear and a huge government bailout.
Look for fundamental value in stocks whilst anticipating reduce earnings due to recession. When your find excellent value I would buy in. IMHO
