Wednesday, June 3, 2009

UPDATE: Jeremy Siegel on Investing

Earlier today, in "Bill Gross on Staying Rich as US Fortunes Decline (and a gift to our readers)"
I linked to the MarketBeat post "Wharton’s Siegel: ‘A Time to Buy’'.
A commenter on that post, Mark Jasayko, left a link to this article at RealMoney:

Jeremy Siegel Says Get Ready to Buy
The "Wizard of Wharton" says don't worry.

"If investors have cash on the sidelines, they should not wait too long to put it to use," says Jeremy Siegel, Wharton business school professor at the University of Pennsylvania and well-known markets commentator. "There are good values out there in equities -- especially in financial stocks -- and you will be rewarded in the long run if you start dollar cost-averaging now.">>>MORE

That was dated August 10, 2007, 60 days before the market's all-time highs.

Meaning 60 days before the start of the most devastating decline in equity values that anyone born in the last 76 years has ever seen.

Morever, he specifically pointed to the absolute worst segment of the market as having good values.

Good values?

More like Good Grief.