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Mellody Hobson
Mellody Hobson
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President, Ariel Capital Management

As an investor, I'd be waiting through this period. If I were an investor with courage, I'd be buying because the most money is always made in times of extraordinary pessimism.

But don't buy what's hot. Right now there's an energy bubble, a commodities bubble, going on. And a lot of people are jumping on those bandwagons thinking those stocks will only go up. You'd be very, very late to that party at this point.

NEXT: Mark Mobius

Last updated April 28 2008: 1:20 PM ET
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