It's very choppy. Friday looked like it was the end of the world, Toronto was down a 150-odd points, and we've gained it all back today. The market continues to be very volatile, and it's testing people. On balance, people are nervous, you don't want to do anything terribly audacious.
More Quotes from Irwin Michael:
People are nervous, they're waiting for the 16th, they're waiting for earnings to come out, and they're hoping there are no surprises. The old adage, 'sell in May and go away' still applies. April was not a good month and today is terrible. It's really become more of a stock pickers' market, people don't want to stick their necks out too far.Irwin Michael
I expect this market to remain extremely volatile and test everyone's patience for the next little while.
Irwin Michael
The market is fraught with indecision, a little bit of anxiety. People recognize summer is coming up and things sort of drift. The market has had a bit of a recovery and now we have to see the earnings come through.
Irwin Michael
I'm surprised that the market bounced back so quickly, I thought there might have been a little more pain before it moved back up. But it looks like (Tuesday) was transitory. There's no fear investors are still full of bravado. The perception is you just keep on buying the dips because they always come back.
Irwin Michael
You're not getting much help from the commodities. People are trying to get a better sense. They don't know whether it's time to go in and pick away at some of the resources that have been hammered down or run for cover.
Irwin Michael
The thing that we pride ourselves in and the thing we attempt to do is have consistent long-term performance. We may not be No. 1 over 12 or 18 months but we are consistently up there.
Irwin Michael
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