Shouldn’t you be off somewhere buying up some stocks?

They say investing is the key to wealth. Of course Karthik Rajaram might advise you differently if he could. Of course he can’t because he killed himself, his wife, their 3 children and his mother-in-law this weekend after his stock portfolio was wiped out. So if things are that bad in the stock market why in the world would you want to go buying stocks right now? Well, according to James B. Stewart writing for The Wall Street Journal in Now Is the Time to Think Long Term and Buy Stock, you want to buy stocks now because now is when stocks are cheap.

The question is, what stocks should you buy? Unfortunately Mr. Stewart made no recommendations there. I’m thinking of buying some shares of Sirius XM Radio Inc because they are dirt cheap and I figure if it doesn’t work out favorably it won’t be much of a loss. I’m concerned though because I’ve owned some shares of Sirius for a few years and the stock has never really done very well. I’m inclined to think there’s no hope for the company at this rate with a share of its stock worth only $0.48 cents; but there’s no talk about the company being doomed so who knows? Picking up some shares while they’re this cheap might turn out to be a smart move. With 120 shares I probably won’t become a rich bitch from my investment in Sirius, but even if it only climbs back to $3 per share it would still count as a small profit.

Image: Buying socks in a shop window by pedrosimoes7 via Flickr

Leave a Reply