PEMBROKE, Mass. — I meet lots of drycleaners who are looking to sell. There’s nothing wrong with that, but there is a time to sell and a time not to sell. This is a time not to sell. Wait a few years, and it should be a better market. You might even double your price if you wait. Here’s why.
The current economic situation is quite tenuous. Now, nobody is ever really sure what’s going on, but the last few years have been particularly iffy. In 2008, the economy almost collapsed. We have not experienced such a crisis since the Great Depression. Government tinkering averted a complete meltdown, but the fear of that almost-catastrophe lingers.
The economic situation is looking up. Major companies such as Microsoft, Intel and Exxon have billions in their tills. The stock market has recovered, and the future looks promising. If you’d invested $100,000 in the market at the depth of the recession, you might have $140,000 now.