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I haven't uncorked the champagne yet, but the mood is noticeably better here in the comfortable confines of Chez Melvin.
Why? The market, of course - what else? It's trying to sell off, but it's not quite there yet.
Over the years, I have learned to love bear markets - the bigger and badder the bear, the better. While everyone else is panicking and selling their stocks, exchange-traded funds, and mutual fund positions for pennies on the dollar, I'm the one buying those positions for even fewer pennies on the dollar. When the bears are running, you'll find me paying bargain prices for great companies with wild abandon.
I've spent a lot of time studying what does and does not work in the stock market. When it comes to getting rich, the one thing that works - better than anything, pretty much guaranteed - is buying good companies when the stock market has fallen by 20% or more.
About the Author
Tim Melvin is an unlikely investment expert by any measure. Raised in the "projects" of Baltimore by a single mother, he never attended college and started out as a door-to-door vacuum salesman. But he knew the real money was in the stock market, so he set sights on investing - and by sheer force of determination, he eventually became a financial advisor to millionaires. Today, after 30 years of managing money for some of the wealthiest people in the world, he draws on his experience to help investors find "unreasonably good" bargain stocks, multiply profits, and build their nest eggs. Tim tirelessly works to find overlooked "hidden gems" in the stock market, drawing on the research of legendary investors like Benjamin Graham, Walter Schloss, and Marty Whitman. He has written and lectured extensively on the markets, with work appearing on Benzinga, Real Money, Daily Speculations, and more. He has published several books in the "Little Book of" Investment Series and a "Junior Chamber Course" geared towards young adults that teaches Graham's principles and techniques to a new generation of investors. Today, he serves as the Special Situations Strategist at Money Morning and the editor of "Max Wealth" and Heatseekers.