Equities are boring; bonds are disgusting.
That's probably good, all things being equal, for emerging markets, not bad, even though it may not be great for all their currencies.
Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.
I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
I'm quite bullish. We're coming up on year 15 of a flat stock market. Historically that's a pretty good sign. So I'm not a hedge-fund manager but if I was I think I'd be feeling pretty good.
There is a substantial correlation between an election year and how the market finishes.
I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up.
You know, the market was down yesterday... my first thought when I heard-just on a personal basis, when I heard there had been this attack and I saw the futures this morning, which were really in the tank, I thought, Time to buy.
Predicting the market is always tough.
We don't prognosticate macroeconomic factors, we're looking at our companies from a bottom-up perspective on their long-run prospects of returning.
If stocks are optimistic, then so am I.
For the immediate future, at least, the outlook (stocks) is bright.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
I think that I could have been take apart if the bear market continued, but I waited three years before I felt the bear market was over and I was right.
Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century.
Any time you speak to people about their posture, you learn about their most recent investment activity. When someone just bought stocks, they tend to be bullish; someone who just sold is bearish.
The data strongly suggest that very good years in the U.S. stock market are followed by more good years.
I found an approach to investing that made enormous sense to me: rigorously analyzing a company's fundamentals, understanding exactly how it makes money, developing a view on the business's future prospects, and deciding if it's a good business.
Secular cycles are the long periods - as long as decades - that come to define each market era. These cycles alternate between long-term bull and bear markets.
I personally have said many times I'd be a hundred percent in equities. That fits my risk profile and my views of the world, though obviously it's not appropriate for everyone. Most investors need a more diversified portfolio.
