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Jeremy Siegel Says Get Ready to Buy
The "Wizard of Wharton" says don't worry.
"If investors have cash on the sidelines, they should not wait too long to put it to use," says Jeremy Siegel, Wharton business school professor at the University of Pennsylvania and well-known markets commentator. "There are good values out there in equities -- especially in financial stocks -- and you will be rewarded in the long run if you start dollar cost-averaging now."
That was actually written on August 10, 2007. I lured you in and I really must apologize. Sorry about that!
The DJIA closed at 13,239.54 on that day. Today it closed at 6,763.29.
There were some especially good values out there in financial stocks though. No doubt about it. And what do you do when there are especially good values? Double or nothing else matters! That's what.
Chart of Ultra Financials ProShares (UYG)
The investment seeks daily investment results, before fees and expenses, which correspond to twice the daily performance of the Dow Jones U.S. Financials index.
Nothing Else Matters
Trust I seek and I find in you
Every day for us something new
Open mind for a different view
and nothing else matters
March 3, 2009
Banks Must Come Clean - Jeremy Siegel
The truth of the matter is that investors are rightfully fed up with the rose-colored view of the world that financial CEOs have presented over the past year.
Some investors might even be rightfully fed up with the rose-colored view of the "don't worry" world that financial "Wizards" have presented over the past few years. Go figure.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
10 hours ago
4 comments:
Stag,
I turned on the computer this morning and the S&P 500 was at 695! Ouch!
Is pownage an actual word or is it more of a concept that can't quite be explained in any human language?
mab,
Even gold was powned! Who would have guessed that after nearly quadrupling in price?
[insert sarcasm here]
We need to effectively mix apples and oranges in order to realize the full value of our assets!
http://www2.standardandpoors.com/spf/pdf/index/030209_Siegel-Response-Letter.pdf
It's so simple. Jeremy Siegel rocks!
mab,
His argument, however, fails the simple tests of both logic and index mathematics.
But those are the arguments that are the most fun to heckle!
Claiming that these losses should be ignored or minimized because they came from a less valuable division is flawed.
Other than that though, have a nice day Jeremy Siegel, lol.
It's funny. Well over a year ago I had a discussion with someone in the Calculated Risk comments.
It was my thinking that I kind of liked the WisdomTree dividend weighted idea. However, there was no way I'd invest in that until the banking system tanked, since banks were paying out what I thought were vast streams of unsustainable dividends.
I wish I would have been more confident. I could have made a lot of money shorting flawed wisdom!
http://finance.yahoo.com/q/bc?s=DTD&t=2y&l=on&z=m&q=l&c=%5EGSPC,%5EIXIC,%5EDJI
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