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POSTED BY ON February 8, 2011 5:19 pm COMMENTS (2)
Hi Manish: i have been tracking the market for last 3 weeks and have been buying at every dip. I have bought couple of shares – RIL,ONGC,South Indian Bank etc. 10 to 15 shares at every dip.Would need advice from the forum if i should continue to buy stock at every dip. I have a long term horizon of 15 years & am expecting a return of atleast 20% from the portfolio.
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recently i read a book on Warren Buffet investment style and i think that one should select great business awash in cash, carrying little/no debt, selling at fair price (not neccessarily bargain price) as you buy a whole business, with idea to hold it for life(long period). selection of the right stock at right price is more important than right time. from my experience, i remember, some particular stock like hdfc bank purchased at right price in 1999-2000, i saw the price tumbled alongwith market, and after recovering, i sold it . but when i saw today’s price ,it is 30-40 times than in 1999-2000. select only a few businesses, and hold for long time.
NO, the time is not right to buy any of the stock!
You are asking for timing the market, which is wrong, and nobody can predict this! Any time is right to enter the market, even when it is falling, provided you buy at every dip or do systematic investment! This would give you best possible returns!