The market still has a long way to go and if the market starts realizing that inflation is closer to 2 percent and not 3 percent, that could easily take the Dow over 10,000 in the next 12 months.
It's not an easy thing to go through, ... Today there definitely was panic.
I think it's wonderful what we're going through,
There'll be a very narrow range of stocks that continue do well,
The fact of the matter is this economy needs to pull back a little bit, build a base, and once it builds that base, I think we're going to take off and see all-time new highs in the market. And you're going to see prosperity like we've never seen since World War II because of that.
I think it's a wonderful marriage.
Look at it like it's your 'Vegas money,' so if you lose every penny you don't have to sell your home,
You should invest in companies you know -- companies whose products you use, ... So when you go into volatile times, you have the peace of mind to know these companies will be here when you leave this earth.
Intel is great for a value investor as well as for a growth investor, because here's a company that's been growing at a double digit rate for years and years and years, ... They're constantly at the fountainhead of their particular industry. And that is going to continue into the future.
We could have a terrible Christmas, and it could be another six months before things improve,
I think China is going to become more like Hong Kong - - more capitalistic and entrepreneurial, ... It's a wonderful opportunity for American companies who like to do business world-wide. It's going to make a significant impact on (American) company earnings in the next 20 years.
We still think over the next five years the Dow is going to 18- or 20,000, so any type of pullback here, we think, is a blessing in disguise. It's a nice way of cooling off the market a little bit and there's still a lot of value out there right now.