You just don't know when you can find the bottom.
There's lots of stocks out there and all you need is a few of 'em. That's been my philosophy.
When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.
You shouldn't just pick a stock - you should do your homework.
Most investors would be better off in an index fund.
When management owns stock, then rewarding the shareholders becomes a first priority, whereas when management simply collects a paycheck, then increasing salaries becomes a first priority.