To the psychotic, short-term thinkers in our obsessed markets, green is more than good. It's a god.
That's why you'll know that, as an investor, you've made a real turn when you look at the daily numbers and hope for a big dose of red.
Why would you enjoy seeing a company's stock drop? Simple -- you're confident in the business. You are sure it will be appreciated in the future. You want to get more shares at an even better price. I was reminded of this the other day, when my colleague Nate Parmelee expressed a wish that Alderwoods Group
I've been hoping for another chance to get more $65 shares of grocer Arden Group
Think this way, and you'll be in good company -- and I don't mean me. Not only will you be on the other side of the trade from the majority of Wall Street's panicky punks, but you'll also be doing what guys like John Neff and the Omaha Oracle have done to make their fortunes. Want to be like Warren Buffett? Pray for low, low prices. As long as he's buying, he hopes things stay cheap or get cheaper. And you should, too.
Scooping up cheap goods is a game we also play at Inside Value, where the only thing we like better than a cheap stock is one that's getting even cheaper. Take newsletter pick First American
There were even better returns for the stalwart when it came to Omnicare
As much fun as it is to try to ferret out the next big thing, the biggest gains in my portfolio have always come from buying obvious bargains, and buying more when the bargain gets better. If you'd like to join other Fools sniffing after stocks on sale with the same kind of potential, a free 30-day trial to Inside Value is just a click away.
For related Foolishness:
- The next big thing is not without its problems.
- Find some dirt-cheap dream stocks.
- First American is first again.
Seth Jayson likes a 70-cent buck even better than an 80-center, even if he's already paid the 80 cents. At the time of publication, he had shares of Arden Group and Alderwoods but had no position in any other company mentioned. Alderwoods is a recommendation of Motley Fool Hidden Gems. View Seth's stock holdings and Fool profilehere. Fool rules arehere.