A Quote by Irving Kahn
Real investors should never feel bearish because the time to buy value is when markets go down!
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Investors have no reason to feel bearish. True value investors are glad the markets are down.
When markets go down, opportunities go up for smart real estate investors. I would much rather play the downturn than the upturn.
I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up.
One of my favorite patterns is the tendency for the markets to move from relative lows to relative highs and vice versa every two to four days. This pattern is a function of human behavior. It takes several days of a market rallying before it looks really good. That’s when everyone wants to buy it, and that’s the time when the professionals, like myself, are selling. Conversely, when the market has been down for a few days, and everyone is bearish, that’s the time I like to be buying.
There is not necessarily a good reason why a regulator should have to be involved in product design and marketing for rich and sophisticated investors. We recommend that such investors should be able to sign a piece of paper, which allows them to go ahead and buy unregulated products at their own risk.
Flea markets tend to be overwhelming. A lot of times, when I go with a first-time shopper, they don't buy anything. The rooms in my new book involved real people with real design dilemmas. They were paralyzed to make a decision.
As a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.
Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.
It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized.
When I'm bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don't buy long stocks on a scale down, I buy on a scale up.
Private equity capital in each of those markets Europe and Asia - while those markets have very different characteristics - fills a niche where either strategic investors or the public markets don't go, or don't want to go for some particular reason. I think that's going to continue to be the case going forward.
I don't feel any pressure at all to go along with anybody. I feel pressure to do the right thing for U.S. markets and U.S. investors.
It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets. You can't do it unless you try to time the market, which is a seriously dumb thing to do. Conservative investing with steady savings without expecting miracles is the way to go.
Strong credit markets give companies borrowing options to boost their stock prices while making bearish investors scramble to close out trades before losing any more money, both of which then push the stock market even higher and continue the self-reinforcing bullish cycle.
The time to buy stocks is consistently over time. You should never buy your investments with the idea, 'I have to get a certain return.' You should look at the best return possible and learn to live with that. But you should not try to make your investments earn what you feel you need. It doesn't work that way. The stock doesn't know you own it.
Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical.
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