Look, I’m as ready for this selloff to end as you are. And when stocks drop—sending dividend yields skyward—I so badly want to back up the truck.
As value-focused dividend investors, buying dips is what we live to do. Sitting in cash is agonizing to me, as I’m sure it is to you, too.
But it just isn’t time yet. Which is why I’ve recommended just one stock this year in my Contrarian Income Report service, while urging my readers to stockpile cash. And after last Thursday’s dumpster fire, we’re sure glad we did!
We’ve also lightened up our portfolio over these last few months, including taking some nice profits on three bank stocks we sold in May:
There was nothing wrong with these three: they were just benefiting from the Fed’s injection of cash into the markets, and the gap between the 10-year Treasury (at which they lend to clients) and the Fed’s policy rate (at which they lend to each other).… Read more