Bob Brinker does not believe that a bear market has begun.
Just this past weekend on Moneytalk, Brinker said to Larry Swedloe:
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“Of course at this point Larry, as you well know, we have not had a bear market. As we speak the S&P is 15% under its closing high, and it’s been as much as 16% on January 10th, so right, we are solidly in correction territory. My question to you would be, how could it be that with all of the bad news that we have had –and I’ll tell you what we have had an avalanche of bad news out there, including the credit markets in just complete disarray in some areas – with all of the bad news that’s been out there, and all of the recession verbiage that’s out there, how could the market just be down in a correction of 15%. That’s not a big deal."
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Here is an excerpt from Peter Brimelow's published quote from February Marketimer. Bob Brinker said:
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"As has been the case with every correction since August of 2007, several stock market pundits are claiming that a bear market is underway. We do not believe this is the case. We expect the S$P 500 Index to work its way into record new high ground by late this year or in 2009."
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Here is an excerpt from Peter Brimelow's published quote of Brinker's February 10, 2008 special bulletin. Bob Brinker said:
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"We now rate the stock market attractive for purchase on any weakness that occurs in the current area of the S&P 500 Index low 1,300s, or any minor weakness that occurs below that level."
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So in a nutshell:
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1) Brinker's portfolios are 100% invested.
2) Brinker is not bearish and does not expect a bear market.
3) Brinker recommends "low 1300s, or any minor weakness" as "attractive for purchase." (This recommendation would apply to new money only for anyone who is following his advice to be fully invested.)
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