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.
More Quotes from 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
There is an absolute certainty among investors that whatever news that happens is going to be bad. The October lows aren't sacrosanct and could be broken. We have a nation that's pre-occupied with what can go wrong. We'd need a booster shot of good news to move anywhere.
Phil Dow
You don't need to worry what the economy is doing people need to buy their drugs.
Phil Dow
It's frightening if you chase performance. One reason why investors went into Japan is that they saw the markets perked up there.
Phil Dow
Overall, I think there's been a profound change in sentiment after the market hit its five-year low in early October, ... The market is factoring in a possible resolution of the Iraq crisis. With the Republican victories in the midterm elections, there's a possibility of a tax cut for dividends. That's like a tectonic shift in fundamentals.
Phil Dow
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