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Anybody Still Out There?
Oh my! What an interesting 2008 has turned out to be. Almost a year has passed since my last post and it is safe to say that panic roams the streets.
Everywhere we turn we see job losses, company bailouts and general pessimism.
However, we as contrarians must remember that the herds of sheep always get slaughtered.
People have extremely short memories. Let me give you a couple examples.
Where you one of the people buy or selling real estate in Western Canada about a year ago? Remember how fast the prices were moving up? Remember how nearly 50% of TLC's programming was about home renovations and focusing on showing incompetent beginners making tens of thousands of dollars by flipping homes? Instead of buying then, it was the perfect time to be selling!
We have heard this a million times but I must say it again. Do the opposite of what the masses are doing!
If everyone is extremely pessimistic, you should be optimistic. When everyone is selling, you should open your eyes to the tantalizing deals available out there.