Bargain Days Won't Last Forever
Babson Park Massachusetts August 5 1932 The recent sharp up rush in prices of stocks bonds wheat and other commodities emphasizes that bargain days won't last forever Those who hoard currency instead of purchasing goods and securities will wake up to find their currency depreciated while goods and securities have appreciated Buy when markets are undervalued and sell when overvalued Time to Buy Equities The outstanding successes financially intellectually and artistically have been men who followed their own judgment Prosperity will return after depressions Prices will rise The man who comes out stronger will accumulate goods and securities not currency The time to sell money was in 1928 1929 The time to buy money in 1932 Great opportunities occur once in a generation Prices are at the lowest since 1914 Agriculture is 57 below 1929 The average price of nearly 100 commodities is 33 below three years ago Some commodities are far below 1893-1897 lows Stock Market Opportunities The stock market has gained while bonds firmed Confidence that markets stabilize The final low may not be seen yet but bargains exist in good stocks Dow Jones at 1914 level while country wealth exceeds that year Some stocks trade below net quick assets This cannot last and waiting too long costs bargains May to September often mark major business depressions Continued on Page Five