The fundamental premise in this business is you cannot be stuck in this business. You can buy stocks for the long haul, but if the market breaks down, you're going to suffer. You're going to pay for it.
More Quotes from Hugh Johnson:
Every time (crude prices) move toward 50, it raises serious questions about the economy and earnings in 2005.Hugh Johnson
Long-term interest rates are low and I'd prefer to buy when rates are higher and more attractive. As a federal government issuer or taxpayer, I'd be excited but, as an investor, I just don't see the appeal.
Hugh Johnson
This market is trying to rally. If the Fed reduces interest rates by 50 basis points, it will touch off a rally, but if we get a rally it will be guarded.
Hugh Johnson
The inflationary news today was extraordinary. Even though we are seeing upward pressure on wages, it's not overwhelming. We are seeing some upward pressure on prices, but it remains very benign.
Hugh Johnson
It's foolish to jump the gun. The thing to do is wait until you actually see large caps outperform, because if you don't wait you can be a year early .
Hugh Johnson
The question coming out of the meeting is, is the dollar's slide going to continue and will foreign investors start pulling out of stocks and bonds because of the weak dollar, ... Most people don't think this will happen, but the G7 meeting raised that concern a little.
Hugh Johnson
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