Quoth the Mavens
Sunday, August 9, 1998; Page H05
Interesting excerpts from investment newsletters:
"We have no particular insight as to when the dreadful bear will finally show up, but we have strong convictions that it will not be in the form of a 15 percent two- or three-week correction, but rather in a nasty downward spiral which could begin with a 15 percent three-day decline and a torturous 40 percent drop after."
-- Leo Hood,
ProFiles Daily Fax Service,
Gainesville, Fla.
"Deflation from Asia is about to hit Western shores. And you know what? It's here to stay. That makes for an evil state of affairs for stock prices. The severe misalignment of asset prices [stocks and real estate] with all other prices will have to change. A major correction in asset prices is coming."
-- Stephen D. Sjuggerud,
World Money Analyst,
Baltimore
"With a large portion of the market acting like a recession is possible, we're clearly not in a breathe-easy mode. It all hinges on Japan. My bet is that the country will turn its economy around. When it does, the world economy will get a new lease on life, and real assets will awake from their slumber. Small stocks will take off, too. We're in for a major change of leadership away from blue chips."
-- Stephen Leeb,
The Big Picture,
McLean
"With the market wilting, our portfolio has been marking time. We currently hold about 90 percent in cash, a cozy feeling. Our downside risk is negligible, and we're collecting 5 percent interest while we wait."
-- Charles Allmon,
Growth Stock Outlook,
Chevy Chase
"Some sectors look inexpensive, . . . including oil and gas. With crude at 11-year lows, the stocks are down. . . . Many good-quality oil and gas companies can grow even in this depressed environment."
-- Adrian Day's Investment Analyst,
Baltimore
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