There are companies that in my mind are obvious takeover candidates,
I think by any measure we are at a major bottom, but bottoms don't happen overnight. Stocks can hit a bottom and then trade sideways, go up and down as they adjust. But I'd be stunned if we traded more than 10 percent lower.
You have this every couple years. You have a 10 or 11 percent decline. We've had it. It will probably go a little bit lower but this is not the beginning of the end.
The work that we keep tells me that we are within a day or two of a short-term bottom. We are at very, very oversold levels, so the last thing anybody should do is sell tomorrow in a panic. The market should bottom over the next couple a days.
Now, everything is just flipped upside down 100 percent. He was wrong then, and I think he's wrong now. He should never have raised rates.
In this case, it's a stealth bull market. You can make money buying stocks of good, understandable businesses -- good being defined as good balance sheets, good rates of growth, good management, no off-balance-sheet financing. No nonsense.
I hope he's right cause that's what I own.
The market took in some unbelievably significant bad news this week and is comparatively holding in, which is certainly encouraging,
The market is very ripe for correction by any standard,