Thinking About Bargain-Hunting Stocks? Here’s Why You May Want to Hold Off.

A 20%-plus decline in the stock market often is a signal to bargain hunters to step in. But strategists caution that U.S. stocks could be in for further losses, and investors may want to remain patient.

“All we have seen so far in the drawdown is mean reversion in the multiple. We haven’t seen the earnings recession take hold yet,” says David Rosenberg, economist and president of Rosenberg Research & Associates. “We could go down another 20% to 30%.”

Rosenberg…

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