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I have always treated him as a nutcase, market timer and simply toxic waste to every bit of TMF philosophy. I don't care for his past record and fame. Sorry, I don't intend to hurt anyone's feeling here. Several of my very good and smarter friends like Cramer. So no one should take my comments personally.

While it is true that market can revisit the recent lows and even lower, I think that the stocks that I purchased during the recent lows (I sold my underwear) were at very good prices.

The bottom approaches and passes very quickly. Most good US banks saw the bottom in July. Even before the FEd action they were 20-50% up and now they are at a 52 week high. So many people are waiting for the July lows for banks like WFC. It ain't gonna happen. The bottom has been passed. The Eurpopean banks are in for a deep dive right now. We are probably close to the bottom at this moment (either we have passed it or is nearby). If I am proven right, I will savor the last week for a long time for having called the bottom for the European financials and american private equity.

While I do not say that the recent lows were the absolute bottom in this market but it could have well been so. Anyway, I am very pleased with my recent purchases. I don't have much dry powder left. Any further invesment will come from breaking my ETFs into pieces which I will not hesitate to do for deeply undervalued stocks, if and when the opportunity presents. I may dip into margin too but would avoid raiding my emergency cash, which I think belongs more to my family than me.

-Anurag
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