By 1932 many people thought they should buy those bargain-priced stocks. It was not until 1954 that the Dow Jones Industrial Average of those blue chip stocks returned to its level of 1929.

So are today's stock prices representing values and bargains? It is frequently wise to wait to buy stock -- and many investments -- at higher prices on their way up.

Often buying on the way down results in holding it while losing potential yields from cash, living with a loss, and waiting for the stock to rise to above your purchase price.

And then, when should it be sold after waiting all that time in a losing position?

John I., NH