Thats short term thinking. If you buy high but the divedends...

Thats short term thinking. If you buy high but the divedends still keep pouring then the time to pay off the capital differs, thats all. Its great to buy a bargain i will say that, but theres several ways to make money. If the divs stay the same at 8% now, then thats still great buying and in 13 yrs that capital would have paid for itself. Probably less if the div increases. If reinvested with compounding then it will pay for itself a lot quicker.

Whats the chances in 13yrs that the price will be back at the price today? And if it goes lower then it is better because you can buy more for less.

I totally agree on having cash available to buy in low times. Thats where most profits lay. If you buy good stocks however theres gonna be a good chance that the price will come back quickly after the market chills out. And while a year or two may seem long to most in the market its not that long really.

I dont think the price of banking stocks has gone unnoticed as there has been a lot of buying early on the last few days. Whether that is day traders or not I cant tell, but my thinking is, quite a few out there, including myself, are stockpiling these on the way down.