I can't stress enough on the 2 words "golden opportunity". Successful investors are born in times of difficulties. They gobble up stocks at ultra-cheap prices and hold them long enough for the economy to recover, thus sending these previously cheap stocks to sky-high prices and give these investors super-profits. Millionaires are created in this way.
Previously, I have missed golden opportunities such as the 2008 Sub-prime Mortgage Crisis & Economy Recession, the 2009 Euro Debt Crisis, and 2010 Euro Debt Crisis 2. Only a few of my stocks managed to break out of 'recession' and head for success (eg. Mencast Holdings). I won't repeat the same mistake again.
It seems that many stock websites and finance blogs are sounding alarm on the looming US debt default. Please read this latest news article to find out more. US is running out of time and may have to bite the dust hard.
Come Aug 2 and hopefully US would default its debt and plunge the world economy back to recession. Yes, my current holdings on Cambridge and Starhill Global would be affected but that's not the point. What you should be happy about is when the world is back to recession again, stock prices would fall sharply and that's the time you should enter the market and gobble up those attractive stocks previously overvalued. For example, I am setting my eyesight on Parkway Life REIT but at $1.84 now, it is very overvalued. I am also looking forward to buy more shares of Cambridge and Starhill Global to average down my purchasing price, should the second global recession take place.
My strategy now is to store up as much cash as possible and ready to deploy them in times of recession. REIT is all about long-term investment but I want to double or triple my earnings by entering the market at the right time. My 40% profit from Mencast Holdings stock has taught me this strategy.
Now, I imagine myself as the hungry eagle, waiting patiently for the big fat prey to get weakened before I rush in and enjoy the meal...
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