Ariel Investment chairman John Rogers says investors should take advantage of the downturn, which is providing the type of buying opportunity that doesn’t come around often. This according to an article in CNBC.
In an interview on March 22nd, Rogers recalled a quote from the legendary Sir John Templeton advising to “buy when there’s maximum pessimism.”
“We’ve been around 37 years at Ariel,” Rogers said, “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.”
Rogers is not alone in his opinion, the article notes, citing recent similar comments by Bill Miller, Bill Ackman and DoubleLine’s Jeffrey Gundlach, who said, “I’ve actually been getting less negative on the stock market” than he had been in recent weeks.