Don't Wait for Perfect Prices

This column was originally published on RealMoney on March 2 at 9:04 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

Good stocks never get to where you want them to go. They never let you in at prices that make them seem like bargains.

In the 1989 mini-crash -- man, am I dated -- we had a 15% correction in an afternoon. (No wonder I am taking this one in stride.)

Yet, do you know what? When the smoke cleared, almost none of the stocks I wanted were at my price. Many of them were a point or 2 above if they were in their 20s or 30s, and 3 or 4 points above where I thought we had ideal levels. ...