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Letter "P" » Phil Dow Quotes
«Once we get over the shock of the headline, I find it hard to argue that this is a negative.»
«You've got to get back to what really moves stocks, and that's earnings. It's not international conflict -- that's always been there. And the market has delivered, despite Vietnam, Sept. 11, and every other horrific thing we've had.»
«Next year people will still be cautious. At the same time I anticipate corporate earnings and economic growth will come in better than expected,»
«One surprise in 2005 will be that business capital spending will be back in a big way especially as cash is at record levels on balance sheets and as companies ensure that they stay competitive.»
«Even before Katrina, we were capacity constrained.»
«There was just a tremendous amount of concern, and the market held, ... In fact if you look at third-quarter performance, it was pretty good across the board.»
«Today's action depends on your investment philosophy,»
«With today's big decline, this isn't a time to be concerned about additional downside but about what can go right in the coming months, primarily a gradual economic recovery,»
«I think [Greenspan] had a calming effect once all the returns were in and people had the opportunity to reflect on what he said.»
«What I see is this pervasive opinion that there will be a better time to buy stocks and that we'll all know it when it comes. But it's never that way. The only way to participate in a market recovery is to be in it beforehand.»