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October 10, 2008
Posted: 907 GMT
LONDON, England — It is not hard to see why the markets have fallen so sharply today. They believe no-one is at the helm. They believe that the policy responses we have seen so far are too little. And in this scenario investors want out. If you doubt what I say, ask youself. What are you doing in your investment decisions? Have you sold or gone into cash? I know we are all waiting to get back into the market, to get some stocks cheap, but is this the time? The problem is that if you thought about buying last week, when the shares were down, you would have got burned — they fell further. So why do it this week when they might fall further and you can buy them even cheaper next week? It is the oldest asset falling problems in the world. No-one will buy until they believe the shares have actually hit bottom or are at least bouncing around that area. The so called bottom fishers have not yet arrived. Posted by: CNN business anchor, Richard Quest |
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