BOSTON (BUSINESS WIRE) - Kobrick-Cendant Funds mutual fund manager Fred Kobrick said today the plunge in the market caused by the Russian Ruble's collapse has been based primarily on emotions, creating the first real buying opportunity in over three years.
"We have had regular corrections since1910 and corrections of this magnitude have occurred every 3 to 4 years," Kobrick says in his on-line advice. "They are set off by different factors, but long-term investors who hold and use these as buying opportunities see stocks, market averages and mutual funds go on to set new highs."
"First, economists have always made currency sound highly technical, so it is a fuzzy, abstract, misunderstood subject. People buy securities on confidence, not on lack of understanding. Secondly, emotions are contagious, particularly when there is a complete lack of good information. Fear is a strong emotion. Yes, some banks will suffer and yes, nobody knows how bad Russia can get. But fear is the force at work in Europe and it has caused people to step back from our markets temporarily."
"We believe that fears will subside and our economic health will prevail. We see this as an important buying opportunity for long-term investors."
For the detailed discussion of Kobrick's views on the Russian crisis, visit the Kobrick Cendant web site at www.kcfund.com, look for "U.S. Stock Opportunity in the Ruble's Fall."
Kobrick-Cendant Funds, founded in 1997, offers Emerging Growth and Capital Funds. Kobrick-Cendant brings together a well-known and experienced money manager, Fred Kobrick, and his team, and a leading consumer and business services company, Cendant Corporation, in a joint venture. Kobrick-Cendant Funds is headquartered in Boston, MA.
Contact: Arnold PR John Isaf 617/587-8923 isafj@arn.com
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