Google traded below $400 for the first time in years yesterday and Apple lost $20 BILLION!!!! in market share in one day falling some 18%. Why you ask? Well, no good reason. Everything took a huge beating. Today we're getting a bounce back from those lows. So is it time to get back into Tech at these prices? It just might be. Remember after 9/11 ? If you don't, help yourself to a nice heap of charts from finance.google.com and check what happened at and after 9/11. I remember most of you calling me months later and the discussion went something like: "Dammit man, anything we would have bought would have doubled by now, ...". Well as Warren Buffet said best:
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
Well others are fearful today. Everyone has run for the exits leaving great companies to be picked up at bargain prices. I'm not saying start buying today, but what I am saying, is when you see a real sign of recovery, have your money ready to jump back in. Which reminds me of another great Buffet quote:
"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
Well others are fearful today. Everyone has run for the exits leaving great companies to be picked up at bargain prices. I'm not saying start buying today, but what I am saying, is when you see a real sign of recovery, have your money ready to jump back in. Which reminds me of another great Buffet quote:
"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."
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