Market Bottom?

From my money manager....

Here are some numbers that tell us what we can now find in the stock market. I read these from the Wall Street Journal. Out of 9,194 stocks tracked by Compustat Research, 3,518 are trading at less than half the long-term average valuation of the stock market as a whole. Nearly one in ten or 876 of these companies are trading below their per-share value of cash on their balance sheet. This is a higher number than Ben Graham (Warren Buffet's mentor) found at the 1932 bottom, which was the low of the worst bear market in U.S. history. These numbers tell me now is a good time to buy assets should we have the capital. This is another way of saying now is not a good time to be selling assets.

But the risk is that we are about to enter a government interventionist era where risk taking and value creation will be punished by high tax regime at the central government. So maybe it could be even worse.