People keep asking what's the fair price for stock A or stock B. While I don't have a solid opinion on an individual stock, I do have about the general market.
S&P500 will go down to $2647 or lower within 2 years. I don't think I'll ever reach $4700 point within these 2 years.
Yes, I think the market peaked at about twice its “fair price”, and expect many companies' stock price to drop 40~55% from their peak. I wouldn't be surprised if Tesla hits $600.
So, my current position is to not invest and save my money until it reaches that $2647 mark and settle down at some point. If it doesn't reach that low after 2 years, I'll start investing with what I saved or with what I can.
I'll set a reminder for 2 years from now. I'll either look back and cringe on my rambling as a stock market noob, or thank old me for the solid bet.
Leave a Reply