As I noted yesterday, I gradually exited the stock market completely the last 18 months, doing my final ETF sales a week ago. (Well timed!).
The last time I did major buying of stocks, prices were a lot lower than today. I don’t plan to buy again unless prices go down another 10%, at which point I’d but half into ETFs and half into megacaps like AAPL and GOOG.
5-10 years ago, I’d look at particular stocks and they’d seem clearly under or overvalued so I’d buy or short them. Today, most stocks seem to be pretty close to fair value, or perhaps slightly undervalued on the whole.
The problem with F is (1) GM used bankruptcy to dump a lot of bond and pension liabilities and jettison low-volume legacy low-volume dealers. F avoiding bankruptcy, so still has these issues; (2) people are gradually driving less while cars are becoming more reliable and longer lasting.
