Boy does this suck . . .

The Dow is at a six year low. Down more than 46% from its 2007 high of 13, 930.

46%

That is a staggering number. Worse yet, there is no reason to believe that we are done yet. We could go down significantly from here. Why not? The chattering masses tell us that NOW is the time to buy stocks. If we are going to hold stocks for the "long run", we should be buying now. Because, they tell us, stocks go up over time. And, with enough time . . . they will go back up. Warren Buffet says so.

Just one thing wrong with that theory.

Ain't necessarily so.

Just ask the Japanese, who still, 18 years after the Nikkei Index topped out near 40,000, have a stock market that is down more than 75% from its high. I would say that 18 years is a resonably long time. So, if you put money into that stock market when it was off 50% from its high, you have lost an additional 60%. I would rate that as "not so good". And, a great reason not to be buying U.S. stocks right now.

Sorry . . . I wish I felt otherwise.