WaPo Columnist Thomas Heath Would Have Recommended Buying Into Nasdaq at 4,000 in 2000

Thomas Heath used his column to give readers some incredibly bad investment advice. The piece titled, "a first lesson on the stock market: don't run from a good sale," told readers that the recent dip in the market makes this a good time to buy stock. This makes no sense.

Whether or not it is a good time to buy stocks depends on the price of stock relative to the fundamentals of the market. This means current price to earnings ratios and the prospect for future earnings growth. Current price...