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‘I think this is a maybe once in a lifetime opportunity to buy stocks at bargain prices.’
That’s John Rogers, chairman of Ariel Investments, urging investors in an interview Wednesday night on CNBC to take advantage of the stock market’s recent plunge.
Rogers cited Sir John Templeton’s advice that the time to buy is “when there’s maximum pessimism.” And, with the coronavirus pandemic sparking wild swings, that time, he says, is now.
“We’ve been around 37 years at Ariel, and I know I said that ‘once in a lifetime’ chance to buy in ’87 and again in 2008, but I do really think this is an opportunity to take advantage of the volatility, and take advantage of the market,” he explained.
Anybody who bought in to this market at the beginning of the week would probably agree at this point, considering stocks are on their third straight day of gains. At last check, the Dow Jones Industrial Average DJIA, -4.06% was up more than 1,100 points, while both the S&P 500 index SPX, -3.37% and tech-heavy Nasdaq COMP, -3.79% were also firmly in the green.
Still, the major indexes are trading well below their record highs.
Watch the clip:
