Payne's Perspective: January 3, 2023: Welcome 2023
Few things pique the interest of folks, such as an ‘Everything Must Go!’ sign in the window of a favorite store or a store where everything was always priced above our budget. Of course, the initial thought is this is my chance to get that fancy fishing reel or watch that I’ve longed for – perhaps the price is right.
I’ve seen these signs forever in stores in Times Square where businesses are not going under, and the items inside are not a bargain. To be clear, I have seen the same signs in tourist areas of Rome and Paris, too. So, on the one hand, I often want to take a peek, but on the other hand, I expect there will not be many bargains, if any, once inside.
Therein lies the dilemma for investors. Undoubtedly, everything is a lot cheaper exiting 2022 than entering 2022. From that perspective, everything is on sale. But is this the same as everything being a bargain?
Items that were egregiously marked up from the start, and now lowered to a more reasonable price can still be too expensive to warrant a sense of urgency of our limited dollars. Moreover, can the deals get even better if we wait a little longer?
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