The Economy Sucks, So It's Time To Spend
from the follow-the-logic dept
PeopleSoft’s CEO Craig Conway says that we’re in the worst tech recession in history and it shows no signs of getting better any time soon. Based on that, though, he says it’s time to spend. I tend to be somewhat contrarian, so I understand where he’s coming from – but I don’t see it as very useful advice. He’s repeating the basic (and useless) investment advice: “buy low, sell high”. The thing is, everyone knows that, but they can’t tell when it’s low or when it’s high. That’s what happens when you’re investing in the present, as opposed to in retrospect.