We can argue about when the first correction is coming since the bottom established at the close on March 9th, 2009. It is important to note that since then the largest correction in the S&P500 was from June 12 thru July 8 when this index fell 7.04% while the index has climbed 56.81%. However, as we have stated and written many times over the past several weeks, we believe that stocks could pull back. That said, quantifying this statement we believe that “although the next ten percent may be down, the next twenty percent will be up.”
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Commentary for September 24th, 2009
Thursday, September 24th, 2009
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Any specific stocks named in this presentation may not be representative of current or future investments in the portfolio to which they belong. You should not assume that investments in the securities identified were or will be profitable. We will furnish, upon your request, a list of all securities purchased, sold, or held in the portfolio during the twelve months preceding the date of this presentation.
Please note that all data is for general information purposes only and not meant as specific recommendations. The opinions of the authors are not a recommendation to buy or sell the stock, bond market or any security contained therein. Securities contain risks and fluctuations in principal will occur. Research any investment thoroughly prior to committing money or consult with your financial advisor. Please note that Fagan Associates, Inc or related persons buy or sell for itself securities that it also recommends to clients. Consult with your financial advisor prior to making any changes to your portfolio.
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