Finding Opportunities

Now is the time to find opportunities.  I don't now what 5, 10, 20 years out will look like but given our market history things should be much better than it is today - we can be knocked down but we always come roaring back stronger than ever.

What we're experiencing today is a great leverage unwinding...financial firms are selling, selling, and selling more.  And this has caused great panic.  Many financial firms have gone bust and lots are being speculated as going bust.

My take...endure some short-term pain for longer term benefit.  The stimulus (or bailout, depending on your perspective) package will help the economy, maybe not today but it will have an effect sooner rather than later.  And the forced selling will stop, maybe not today but it will sooner rather than later.  Be selective.  Pick and buy only those companies that will weather this financial meltdown...and buy with big cushions - we're not rocketing back to Dow 14k anytime soon.  Remember, this cold be the once in a lifetime opportunity for Gen X'ers, including myself.

Warren Buffet seems to agree.

http//www.nytimes.com/2008/10/17/opinion/17buffett.html?em