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When there is blood on the street
Konecranes, Metso, YIT, Efore, Neste Oil, Nordea... I bought these shares this week. After-prophecy is not my thing, just like I think Monday coaching is for people who don't believe in what they are doing. Reading financial pages and discussions recently has only given exactly as confusing feeling as reading the autobiography of Motley Crue, The Dirt. I always wonder how many of these financial columnists and forumists are actually rich. There seem to be much more people stating what they did successfully few months ago instead of what they are doing now… just like old footballers like me tend to do ;) Confusion and panic are the best I can describe my intake from recent economic climate and media coverage so surely then also a blond footballer is in the right place to write about the stock market.
Let's face is, now is a historic time because most likely in our life time shares are never going to be valued so low again. Global credit crunch has butchered investors and companies so hard that there is an overflow of panic and blood on the street. Nothing makes sense anymore, no value is probably what it should be and people are scared and avoiding shares like deceases. That is the surest reason to buy. Sure, the economy and stock market is going to jump up and down maybe even some years now but for a longer term investor this is the time to tank shares. Where I am making my fortunes then? Sure I would like to buy some tempting shares from China or Black Earth Farming but I believe one should invest to market and businesses he knows and understands so I am concentrating on Scandinavian shares, and if you look some of the Finnish companies they are absolutely fantastic.
I am no Warren Buffett... only oracle -ish experience I have had lately is when I predicted they forgot not to put olives in my takeaway pizza. I can play Omaha, though, but overall one "t" short from the stock market legend is closer being my menu. I am not obsessed about trying to find the lowest time to buy and sell at the highest value. I like to think I buy companies, not stocks. This is another reason why Finnish companies are extremely good investments. Many Finnish companies have a strong cash balance, little depths and carefully managed business strategies. In such a challenging times like these looking into strong wealth and company's ability to create cash are often good indicators how strongly the company has potential to come out when the times start getting better.
The famous saying is: "When there is blood on the streets, buy!". I am going now bit by bit hard to Finnish shares. And I won't sell before the local suburb taxi drivers are starting to tell me what they have bought that week.
ps. and just to spice it up a bit I will also look into companies like Outotec, Atlas Copco, Trainers House and M-Real B to get some excitement.