They didn’t name our country after Columbus because he hedged his bets dammit, and I’m not going to do that either. That’s right….Buzz said it. This market has BOTTOMED.
Now, you may ignorantly ask, what makes me qualified to make such an observation?
Well, for starters, I almost got a job at Edward Jones. The fact of the matter is, they just needed a little more front-money than I happened to have on hand at that particular time. Plus, I had one less personal bankruptcy than the guy that did end up getting that branch….so you know it was close.
Despite this setback, I have spent hours every month learning the ins and outs of a certain profession, known to the laymen as “stock brokering”. Basically, Buzz knows things that you don’t know. Like how to understand that contrary opinions happen to be more profitable than their agreeable compadres.
So while everyone else has been running around like Chicken Little, Buzz has been cool as ice, putting $50 extra into his sharebuilder account every month, calling for full speed ahead in unloved assets like Lehman Brothers, National City Bank and even Yahoo.
Bottom line? When Buzz calls a bottom, Wall Street listens.
And you should too.