LABJ Forum: Taking Stock of the Market
Wall Street surged briefly last week on upbeat earnings news after moving downward for two months, leaving some investors wondering whether the market has bottomed out. So the Business Journal asks:
Are you invested in the stock market or on the sidelines?
Bob Pearlman, Partner
Grant Thornton LLP
I don’t know if the bottom has come. I’m not a market timer, but I do believe there are lots of quality companies out there that are trading at fair or even low values. I’ve always been in, probably because I was too stupid to get out at the right time. Based on the fundamentals of good companies in the long run the stock market is a wonderful place to invest money.
Russell Frandsen, Partner
Radcliff Frandsen Dongell & Lawrence LLP
I have stayed in the market but have not increased my position over the last couple of years. I think tech is due for a substantial rebound, and I intend to get back in within the next month or so. I think we’re at the bottom of the Dow, too. The market hasn’t gone up as fast as I would have thought, but I don’t expect a double-dip recession.
Michael Carr, Executive Vice President
Pacific Coast Feather
I would describe myself as a value investor, so I’ve actually been on the sidelines for quite some time. And at this point, I don’t see a chance to get in just yet. I still think we need a lot of stocks to come down to reality. I’m always looking, but I’m driven by value as opposed to momentum and other philosophies.
Jenna Mattison, Actress
I don’t invest in anything I can’t see, touch or smell. So I invest in real estate.
Bob Fabregas, Chief Executive
I pulled back after Sept. 11 but I’m still invested. I think the recovery is well underway. I think the large-cap techs should experience good near-term performance and will lead the way.
Michaelle Burstin, Managing Director
I’m still invested in the market, but there is no question that this market is for people with nerves of steel. That being said, I do think that there are strategic buys. Small caps and technology stocks can still be very smart investments. That’s only if you have a long-term perspective, but I’m still convinced those will lead us out of the bear market.
Greg Stine, Owner
I invest little bits and pieces, but I don’t pay attention to them I pay attention to my business. The long-term returns of the stock market pale in comparison to owning and growing your own business.