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Dangers of buying in a bear market

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I had an angry stockbroker on the phone on Thursday demanding that I make buy recommendations.

He said there were shares to buy that were showing huge increases. The example he gave me was Royal Bank of Scotland.

At the peak yesterday the shares had more than trebled on their 2009 low of 10p set on 19 January.

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Timing is essential
What he said was true, but did he buy them on 19 January? The answer is no. He wants me to be able to pick the moment when a collapsing stock in a bankrupt and wholly discredited bank is going to suddenly stage a dramatic rally.

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