David Katz Quotes on Money & Wealth (3 Quotes)

We think the recent sell-off has created some tremendous opportunities in the money center banks and the brokers, ... We'd be putting money into J.P. Morgan, which has had some lending to many of these companies that have had accounting problems. Citibank, we think, is going to do quite well and Morgan Dean Witter. So play off this negativity, buy some of these very good companies at very good prices.

We would try not to trade on a day-to-day basis. If you do that, you're going to lose your hat. We would take a 6-18 month time horizon. Try to find good businesses, reasonable prices. Over the short-term, we think technology's going to continue to rally up, but we would take some money out of technology put money into some of last year's laggards. The pharmaceutical companies are good businesses, good prices. The financial companies, banks have been maimed last year.

If you liked Intel before today, you should like it even more today. We liken the situation to IBM, which had a slight disappointment, the stock sold off from 150 to 130. If you bought it then or held on, you made a lot of money.