In these capitulated markets All listed Companies….. the Good, the Bad and the Ugly are being painted with the same paint brush now… now that’s a great Opportunity to hoard up on some great scrips at distress prices
Just be careful… Bad and Ugly Companies have an excuse now to be quoted so low… don’t buy them just because they are cheap… they never deserved to be listed or quoted high in the first place
Given this worrying Business environment, Good Companies will have some tough and challenging quarters into 2009…. that should not deter you from hunting the carton for some crazy bargains… just be careful of the Bad and the Ugly… these will discolour and go out of shape and shrink and tear fast…. and zips and elastics will not work and buttons will fall off and…..
Look at at this way… given a choice, would you buy Silverline at Rs 9 or IFCI at Rs 15…. or Hotel Leela at Rs 20 or HOV at Rs 30 ? … Oh ! and Unitech which had dropped to Rs 30 has already bounced back to Rs 50 inside two trading days
I reiterate… Keep the Faith !.. You’ll need both, Conviction and Cash