Dear Mr Tan,
Your posting on your blog 2 weeks ago just before the market plunged to below STI 3000 mentioned that the index may not drop to 2700. You also mentioned that Warren Buffet had started nibbling on some stocks.
I have never bought stocks during a correction but did so only because I wanted to emulate your disciplined approach to investments. I took courage and bought some blue chips at good prices. I am an investor and not a trader.
The market has somewhat recovered, although volume is rather thin. In your opinion, would you continue to buy stocks at this point or would you wait for the market to correct further? I notice corrections of 20% of the STI occur infrequently.
You did well. Congratulations.
I think that it is all right to continue accumulating from here. I shall be doing it myself. Let us hope that we are both right!
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