|
Recent fears of indebted European nations, of China's measures to fight inflation, or of added foreclosure woes among both ordinary homeowners and our nations' banks, plus uncertainty about what Washington politicians may next have up their sleeves to "fix" the economy, have caused a several percentage point decline in U.S. stock markets since the big switch election earlier this month. That this may actually be a good thing, since stocks were again getting into rarified, overbought territory, too high to be justified by their projected income streams, has been largely ignored.
Yet, this Thanksgiving season, let us be appreciative of market volatility, for just as oceans going out may reveal tasty morsels stranded in the tide pools, so the lower average share prices from recent downturns make it easier to find juicy bargains.
| |