Dividend Growth Investor - Investment for October 3rd
As you know, stocks were down in the month of September, as the bear market accelerated the declines in broader indices. Naturally, this presented me with a lot more opportunities due to valuation. There are plenty of companies that still sell at premium valuations, despite the decline in stock prices. A prime example is McCormick (MKC), which I find not cheap enough today. There are also plenty of companies which have often appeared fairly valued, even during the highs of the bull market. Examples include Bristol-Myers Squibb (BMY).
For this bear market decline, I would try to prioritize investing in companies that are rarely cheap or in value territory. The company I invested in this morning is a prime example of this.
I would try this opportunity to add to existing positions with a small portfolio weight, or initiate positions in new companies.
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