Confession: I love these little stock market dips. I love it when the chorus of the eternally wrong sings of our inevitable doom. I love it that I have a chance to be in a minority opinion that inevitably turns out to be correct. Mostly, I love it that the stock market has a chance to reshuffle the deck, for I long for the dissolution of the false merit conferred upon some stocks by their lofty price. Only fundamental value, here and now value, can stand strong during such times, and it is after the equalization of such reckonings that the truly meritorious emerge. The sentiment was probably best said by Arragon in Shakespeare's Merchant of Venice:
Let none presume
To wear an undeserved dignity.
O, that estates, degrees and offices
Were not derived corruptly, and that clear honour
Were purchased by the merit of the wearer!
How many then should cover that stand bare!
How many be commanded that command!
How much low peasantry would then be glean'd
From the true seed of honour! and how much honour
Pick'd from the chaff and ruin of the times
To be new-varnish'd!
I see no reason to think any of the following stocks stand to gain from a reevaluation based on merit.