The final capitulation is here. During the first quarter of this year, fear finally usurped greed. This is what we have been expecting.
Investors usually run for cover when it gets the darkest.
Those who survived the cycle will eventually see the light at the end of the tunnel. For longer-term investors, reaching trough valuations means opportunity. Allow me to talk about the near-term situation for a moment. No one has any idea how to answer when they are questioned about the depth and duration of this downturn. Most of the companies in the sector have not breached the lows that were set in October and November of last year.