Good Friday: Exchanges are closed. Despite what I wrote yesterday, I have not gone to cash. I remain optimistic for low-P/E, good-growth, value stocks. But it’s not an easy market. Squirrely.Volatile.
Huge amounts of cash are floating looking for a home (not bonds, which suck).
If this market does take off, we are likely to see a huge inflow of all the present sidelined market. No one can guess when this might happen. But it will happen — when it’s too late (for them, but not us).
Meantime, I bought a little more HON, JNJ, QCOM and MMM.
Meantime, have a great weekend. Read Michael Lewis’ book Flash Boys. Get lots of exercise. Hug the family. I’ll see you Monday.
– Harry Newton