Port's current thesis on the market...
- Thread starter Port1385
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I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future. No Congress of the United States ever assembled, on surveying the state of the Union, has met with a more pleasing prospect than which appears at the present time. In the domestic filed there is tranquility and contentment.
Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels (S&P500), such as bears have predicted. I expect to see the stock market a good deal higher within a few months.
I feel that Wall Street is sound, and thats for people who can afford to pay for them outright, good stocks are cheap at these prices.
This is the time to buy stocks. This is the time to recall the words of JPMorgan analysts that any man who is bearish on America will go broke. Within a few days there likely to be a bear panic rather then a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years.
Some pretty intelligent people like Buffet are now buying stocks. Unless we are to have a panic which no one seriously believes, stocks have hit a bottom.
The decline is in paper values, not in tangible good and services. America is now in the eighth year of prosperity as commercially defined. The former periods of prosperity in America averaged 11 years. On that basis, we now have three more years to go.
I see nothing in the present situation that is either menacing or warrants pessimism. I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.
Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels (S&P500), such as bears have predicted. I expect to see the stock market a good deal higher within a few months.
I feel that Wall Street is sound, and thats for people who can afford to pay for them outright, good stocks are cheap at these prices.
This is the time to buy stocks. This is the time to recall the words of JPMorgan analysts that any man who is bearish on America will go broke. Within a few days there likely to be a bear panic rather then a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years.
Some pretty intelligent people like Buffet are now buying stocks. Unless we are to have a panic which no one seriously believes, stocks have hit a bottom.
The decline is in paper values, not in tangible good and services. America is now in the eighth year of prosperity as commercially defined. The former periods of prosperity in America averaged 11 years. On that basis, we now have three more years to go.
I see nothing in the present situation that is either menacing or warrants pessimism. I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.
Everything I have written in this thread were comments cut/pasted from right before and after the 1929 crash. Some of the comments were made by figures like Rockefeller. Rockefeller said right after the crash that he was continuing to buy.
The only recent comments were from Buffet about Goldman Sachs.
The only recent comments were from Buffet about Goldman Sachs.