Robert Robbins
Robert Robbins
Robert D. "Bob" Robbins is a Republican member of the Pennsylvania State Senate, representing the 50th District since 1990. He previously served as a member of the Pennsylvania House of Representatives for the 17th District from 1983 to 1990...
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The finance sector has really emerged as my favorite here, edging out technology by a bit. I recommend that people have about a quarter of their stock holdings in finance.
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The company delivers essential products and services, ... And this is one that should benefit from the new Medicare legislation that is being proposed. You're going to see another $15 or $20 billion spent on drugs and CVS, of course, as a drug store chain, would benefit significantly from that.
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I think the market is going to all-time highs. It's hard to predict when it will happen, but this is a wonderful economy, you've got great economic growth.
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It's normal as the market rallies so strongly that we start seeing a correction and start looking for maybe even a 7 to 10 percent correction ultimately. But I don't think we're vulnerable to that right now.
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It's held up well against the difficulties of some of the other airlines with some of the fare congestion and the problems with oil prices having been high over the last few months,
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It's an appropriate example of the new corporate governance since the stock has languished for so long.
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It's harder to find the enemy in this kind of war. There's the fear of terrorist counter-attacks.
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Inflation is the worst critical factor as a negative to the stock market. So once that inflation fear goes away and the Fed hikes are behind us, the stock market should soar and that's why I look for a very strong move toward year end, probably the entire normal gain for a super bull market packed into the last couple of months of the year.
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I think bonds are appropriate for anybody that is close to retirement or is already retired and feels like they need that security and that defensiveness, ... appropriate diversification for a lot of people. But for people who are young and who can put money away for a long time, they really ought to be overwhelmingly in stocks.
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The Fed rarely surprises the markets, and the consensus of private economists is clearly that the Fed will not do much. We really had slowing data on the economy and slowing inflation pressure. And I'm hopeful that this is close to the end of the Fed rate hikes,