The market has dropped quiet fast in 2022. Although seeing red everyday doesn’t mean things are cheap and worth buying. I’m eagerly watching lot of companies but I’m staying patient and just watching. I wait for some major cleansing before I would start buying. In the last few days we have started to see news about companies and funds closing shop.
Tiger Global VC fund taking a huge punch.
Terra stablecoin shutting down.
Personally I’m waiting patiently for a bigger drop. Until I see lot of clean up in terms for funds and unprofitable companies, I’m not putting any money into the market. Like the Wells Fargo CEO said, the worst is still to come.
Also you will see at the bottom of the article the mention by Elon Musk and Jeff Bezos about blaming of inflation on Biden’s policies. I think that is bunch of BS. The idea that a president that has been in office for less than 2 years can create inflation from below 2% to over 8% is absurd. The inflation rate is here partly because of policies that has been place since, and even prior to, the Trump administration. Trump’s administration passed trillions in aid and increased monetary supply. The result of years of printing cash is now showing up with the inflation. Also, Jerome Powell is right that partly the inflation is due to the supply chain and global politics.
2 responses to “Still waiting to buy”
Do you see Emerita Resources Corp, and Oroco Resource Corp dropping further down? I thought they bottomed since they dropped more than 50% from recent highs.
I really don’t know where the stock price will go. It could easily drop 20-30% more for Oroco and EMO. I can see the entire stock market can drop 10-20% still after the beating it has taken in 2022.
What I really like about OCO and EMO is they have a resource whose demand is high and growing and there is a major supply issue. Copper is in a bull cycle and it is going to be strong for years.
Personally I like EMO more than OCO at this point. I think EMO is ahead of OCO in terms of having a team in place and getting a process for drilling and integrating the results. OCO is getting better and the new CEO is part of that process. Both will do super well before the year is over and will do even better in 2023. So I sleep well owning them both.