Is now the time to buy?  Alan Sugar thinks so…

You can say one thing about plunging stock markets. As shares become ever cheaper, there must be some bargains to be had out there. It’s often said that amongst today’s wealthiest Americans are those whose families invested heavily in Wall Street after the great Crash of 1929. When markets recover, some people will do very well indeed. So there’s been a lot of interest in Alan Sugar’s purchase of 3.9% of Woolworths at a knock down price.

Woolworths shares have fallen 83% over the past year and last month it suspended its dividend payments and reported a record six month loss. So the question is: has Woolworths gone so low, the only way now is up? Or has the star of BBC’s Apprentice blundered and thrown away a small fortune? All will depend on the ongoing chaos in the world’s financial markets – and its impact on the UK High Street.

Any of you got the courage to buy bank shares tomorrow?