Terrorism threats have been a wildcard out there and it looks like its happened again, ... It certainly looks like there is panic selling going on in Europe, but the day could still end flat to modestly higher.
More Quotes from Phil Dow:
You don't need to worry what the economy is doing people need to buy their drugs.Phil Dow
Next year people will still be cautious. At the same time I anticipate corporate earnings and economic growth will come in better than expected,
Phil Dow
What I see is this pervasive opinion that there will be a better time to buy stocks and that we'll all know it when it comes. But it's never that way. The only way to participate in a market recovery is to be in it beforehand.
Phil Dow
They have the best of breed kinds of companies in two really good industries. They have a natural gas pipeline company. In addition, a fiber optic network which will be 33,000 miles. Each have the wind at their back and we think the combined businesses conservatively are worth 60. Right now the stock trades for around 45. The company just announced a way to unlock that value with a spin-off of their Williams Communications Group. So we think it's just a matter of time before that stock reaches 60.
Phil Dow
It's amazing to see intellectual capital turn into profits so quickly.
Phil Dow
You've got to get back to what really moves stocks, and that's earnings. It's not international conflict -- that's always been there. And the market has delivered, despite Vietnam, Sept. 11, and every other horrific thing we've had.
Phil Dow
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