02-05-2015, 08:38 AM
I don't think that Warren Buffet ever said, [it doesn't matter what I paid!] I'll buy these DG kinds of stocks, but not at a p/e much above 12, otherwise the price is too high. Patience and let the price come to me, that will be my game. So many here seem like children with money in their pockets standing in the candy store. Sometimes holding cash or cash equivalent and being patient is the best strategy. The next cycle of earnings compression and fear will provide real bargains, and I want some cash in the ready an/or other stable valued liquid assets available for those opportunities. The share price of PG for example, has hit $60 in May 2007, in May 2008, several times during 2010-2012. What is to keep it from revisiting that level? My first buy of PG will come at under $65 when the yield crosses 4%. I love PG and would love to own it, but only at the right price.
Alex