Saturday, Ms. Jimenez made the comment that she is a business reporter for KGO radio, not a financial advisor. In my opinion, she's an excellent business reporter.
According to Bob Brinker's brief announcement last weekend, this is the last Saturday Moneytalk will be broadcast. Brinker's program will be broadcast on Sundays only.
Year-to-date, the Dow in down 2.8%, and the S&P 500 Index is down 2.3%. And the Nasdaq is down 21% since 2007. Brinker is on record saying the market is only in a correction and will not become a bear market because none of the five roots causes of a bear market are in play.
Moneytalk, May 8th, Brinker said:
.....Remember we had a correction in January and February. It lasted three weeks and it was 8.1% in the S&P 500. A lot of people saw that correction and said the world is coming to an end, run for the hills. They were wrong. Now we've seen an 8.7% correction to date that has been in process for the last couple of weeks since late April which has been against the backdrop of what's been happening in Greece and in Europe, and we getting those same screams from these people who are panicking and saying run for the hills, it's all over. Well, that's their opinion, that is not my opinion.....
.....I do not believe that the crisis in Greece is going to derail the United States economic recovery. And as a consequence of that belief, I do not believe that the crisis in Greece is going to produce a bear market in the United States. Bear markets are defined as losses in the major indexes, such as the S&P 500, in excess of 20% on a closing basis."
Moneytalk, May 22, Brinker said:
......You know, just a couple of weeks ago in my investment letter, this is what I wrote, quote: "Any short-term weakness is viewed as a health-restoring event." I also went on to write earlier this month that I would take a more positive view with regard to investing new money into the market during a correction for those who find themselves under-invested. And I do believe that those who are looking for opportunities to make additions to their stock market portfolios and are using this correction and periods of weakness within this correction -- there have been plenty of those. I think that's a reasonable course of action....
....So from my point of view, I think it's a correction. I don't think we are going into a bear market, defined as a decline of more than 20% of the S&P 500 Index. And I also believe that when the correction is over, we are going to see new recovery highs in the S&P 500 Index. That's what I think. I'm Bob Brinker. This is America's money program."
I took these pictures this morning on my morning walk. Both trees are absolutely beautiful. Enlarge to get a better view of the blossoms:
.
