Quotations

«Markets are down because of the start of attacks and the fear of counter attacks, which could impact further corporate earnings.»

«I'd stay focused on the idea that the economy will show firmness in the next few months, if not the next few days.»

«I think investors should strongly invested, ... They should realize that doom and gloom and all of this talk of recession is typical of major market lows. I think they should realize that the average decline within these long-term 'super bull' markets is 19 percent. And we've been down 27-to-28 percent. It's a great time to buy.»

«Yes, I think it's going to be a fantastic buy. I think we're going to pack the whole year's Super Bowl rate-of-gain, which tend to average 16 percent during the last 18 years, compound annual growth of the S&P 500, 16 percent a year. We've had zero so far and the outlook is improving very, very significantly for the worst worry that people have had. And that is the Fed rate-hiking. It really looks like the probability is increasing dramatically that the Fed rate hikes are over and inflation pressure is in check. And as that continues to happen through year-end, we can get a fantastic rally, 15 to 20 percent on the S&P 500 in three months.»

«Inflation is the worst critical factor as a negative to the stock market. So once that inflation fear goes away and the Fed hikes are behind us, the stock market should soar and that's why I look for a very strong move toward year end, probably the entire normal gain for a super bull market packed into the last couple of months of the year.»

«The finance sector has really emerged as my favorite here, edging out technology by a bit. I recommend that people have about a quarter of their stock holdings in finance.»

«I think [with technology] we had a two-year run that was fantastic and the Internet is off the front burner. It really is in trouble. You look at the top three market caps -- AOL, Yahoo!, and Amazon, the technical trends are very mediocre to negative. And that's true of most of the others as well in the Internet area. So I wouldn't be so hot on tech especially at this time of the year when risk taking is really not a good idea. This is the worst seasonal period of the year going into late September and October. Now we may have one more little move up to the summer rally highs, but I wouldn't be chasing it,»

«Because of the caution that I see right now, I would emphasize some of the more defensive stocks that are the bigger, stronger leaders in their areas; essential products and services; these tend to experience less than average volatility.»

«I think investors have got to be more selective than usual for a few reasons. There's really a broader leadership in the market. There are a lot of finance stocks that are acting great. And that wasn't the case over the last two years to three months ago. This is pretty recent. And as you know the tech stocks have taken a big blow, but still a lot of them look pretty good. So I would spread things out. Finance is my favorite area. I have about one-fourth of total stock holdings there. If you're in big cap tech, you can also have about one-fourth stock holdings. I think if you're in secondary or small cap, probably about one-fifth. Consumer cycles have gotten very choppy. Maybe about 12-to-15 percent of total stock holdings. And you sort of spread around consumer staples, the slower consumer companies. And health care has got some attractive areas, but it's pretty choppy too.»

«I suggest the small investors dig in their heels with this market, not worry too much. The Fed really didn't cause a significant inflation problem. So far, this inflation pressure has been no worse than the worst it's been in the last several years. And each time it's been a great buying opportunity. Any time you can buy the S&P 500, the stock market index of the top 500 stocks, when its 7 to 11 percent off the all-time high, it's probably 2 to 1 odds. Given the history of super bull markets that we've had for 18 years in the two other of the century, that's going to be a fabulous buying opportunity. And if it's not, than you're probably half way down to the ultimate low and that's going to be an even more fabulous buying opportunity.»