Buy! Buy! Buy? |
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With Abu Dhabi investing 7.5 billion of his oil money in Citigroup, it's time to ask the question... is it time to buy? Rumors are circulating that this isn't the only deal in the works. CNBC open speculated that someone might invest significant amounts in homebuilders in the coming weeks. I believe the answer yes. Foreigners are looking at investing because it's a relative bargain with the weak US dollar.
I've been thinking about how I can take advantage of this. The obvious answer would be to invest new money in financials (perhaps the XLF ETF) and/or homebuilders. There are still a lot of unanswered questions in these sectors. However, if have a long term outlook, perhaps now is a good entry point. I might shift around a few dollars in my retirement accounts. It's times like this where I regret not moving my 401K to an IRA to invest with Zecco. There's a small annual fee for retirement accounts, but you can rebalance as often as you like for free (just be careful of bid/ask spreads.)
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It is hard to argue with Abu Dhabi. That area of the world has proven to be shrewd business men. They see a bargain with a weak dollar and a weak financial market due to the loan and housing debacles they have gotten into. The stocks are low right now and we all know the market will adjust and come back strong in the long run.
Right now ia definitely a good time to get bargains, but when will the dollar rebound?
Maybe in 10 years when alternative energy is viable. I figure a decade or so after that, we’ll have adjusted, and the oil prices will go back to dirt cheap if not out of business. Until then, the foriegn market is still growing…