Don Cassidy
Don Cassidy
everybody funds start
We and just about everybody else thought that large-cap funds would start to take over in the first quarter, but it didn't happen.
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People will feel they did not make a lot of money (this year), and yet they may well see some significant capital gains taxes due on their funds holdings.
confidence domestic economy estate expect fact flowing funds gold good interest market money people rates rather recent stock success vote
The success of gold and real estate funds indicates people expect inflation, which is probably not good for the economy and the market because interest rates will rise. And the fact that three-quarters of recent new money has been flowing into world funds, rather than domestic funds, is not a vote of confidence for the U.S. stock market.
allow believe easier funds guess investment month mutual pay problem security social whether
They always say pay yourself first, whether in mutual funds or in the bank, because if you pay yourself last, guess what? At the end of the month there's nothing left. Find some kind of investment you can live with so you can allow yourself to do it. Whether you believe Social Security will be there for you or not, it's still not going to be enough. And more is a much easier problem to have.
confidence investing maybe quarter tells
I think it tells you a lot about the confidence you can have investing overseas. And maybe a little about the kind of quarter we had here at home.
insular
You can be too insular in your thinking. It could backfire big time.
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There are lots of different kinds of investing nicely matched against the structure of a closed end fund, that are not matched through other things. But this is not something you necessarily buy and hold forever. You've got to watch interest rates ... and be somewhat involved. But do you need to be an expert? No.
banks clearly drive factor financial five growth helping large leading shift six value year
We thought there'd be a shift to growth this year because value had been leading for five or six years, but we also thought there would be a shift to large caps, which clearly hasn't happened. Meanwhile, value-oriented sectors such as financial services, banks and brokers haven't been strong, another factor helping to drive growth over value.
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Too many investors tend to be backward looking. You can't just say they declared the quarterly dividend for the last 10 years, I guess they're going to keep paying it. Think about what the business conditions are.
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This year the month's psychological climate also benefited from a solid rally in stocks that had begun in mid-October.
buy higher stomach whenever
Whenever you buy any kind of sector, you have to have the stomach for higher volatility.
millions rather united
We see him as one more young man, like thousands, like millions who rather come live in the United States.
fickle investors
We said it would be a stock-picker's year, and it was. Investors were particularly fickle and short-term driven.
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Number one, long term, they will be a no-load buyer and a more cost-conscious investor and not lean so heavily on the advice of financial professionals. And two, it will force them to do a little self-educating, which is always a good thing. At the very least, if they are going to rely on someone else, they can ask intelligent questions.