James Altucher Says Buy: Blood in the Streets

Aug 4, 2011
J. Webster
Comments Off on James Altucher Says Buy: Blood in the Streets

The stock market got absolutely crushed today, with the Dow down over 500 points, and the 8 down day out of the last 9. A nice run if you’ve been short the market but very painful if you’re long. However, now there’s blood in the street as they say, and panic and lots of fear, which means perhaps it’s time to bite the bullet and buy stocks. That’s just what James Altucher wants to do.

Why? Here are some of his reason. As usual, Mr. Altucher makes a good case:

– The debt ceiling crisis has passed.

– 75% of companies beat earnings estimates.

– Household debt obligations (rent, credit card bills, car payments, etc., divided by income) are at lows since 1992.

– Manufacturing and service sectors are still expanding.

– GDP growth is still expanding.

– Many commodity prices are at historic lows.

– Car sales are up 5.8% YoY.

– The effects of QE2 + Japanese stimulus are not yet baked into the economy.

Source: MarketWatch

Related Posts Plugin for WordPress, Blogger...

Comments are closed.