Nothing is for certain, but I have a list of things to buy and have begun nibbling this past week. I bought some of the US oil & gas trusts: CRT, PBT, SBR, HGT. Also Dorchester Minerals LP DMLP, and some more COSWF. Some of these I owned and sold at double the current price. A few are new. I may buy some more if they stay reasonably priced or go down. Both the prices and the peak dividend rates are or will be down, but they will still be paying 8-10% on the new lower prices. These have no debt, no bureaucracies, and for DMLP, COSWF, and CRT fairly long lives...longer than mine at any rate. I have also bought some Berkshire Hathaway class B BRK.B shares in ten share swatches, and may buy some more. I added some to HSGFX. Also I bought a few silver stocks. I am not going to be a martyr if things start to slide again, but if you don't buy when things are cheaper than they've been in ages, when else would you buy?
Some of the long term well known value buyers are emerging and starting to buy, Jeremy Grantham of GMO among them whose third quarter update has just come out.
Ironically, or just typically perhaps, he was fired by Vanguard as a manager of three of its funds early this year in part, I think, because of his persistent public bearishness which doesn't sell funds.
Also John Hussman, another deep value guy, has been reducing his short hedges.
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