Is It the Bottom or Bear Market Rally?
By CNBC.com | 13 Oct 2008 | 12:59 PM
After suffering through one of the most significant market downturns
in history, investors are asking if the worst is over ... if the
bottom has been reached. Some experts think so, although they are
careful to hedge their comments. Monday's market surge might not be
the absolute bottom, they note, but it is an indication that some
stocks and sectors are too cheap to pass up. And that buying will put
in a floor, if it hasn't already, they claim.
"There will certainly be a lot of retrenchment in the real economy,
but the stock market tends to look ahead," Mark Mobius, lead portfolio
manager at Templeton Asset Management, said on CNBC's "Squawk Box"
Monday morning. "...You will probably see a few more declines, but
we're beginning to see the bottom of this and so the opportunities are
quite interesting, quite attractive." Others don't totally agree. They
think the market surge is simply a spate of buying in a generally
depressed and downward moving market. But they also suggest investors
take advantage of it.
"Yes, I do believe this is a bear market rally," said Christopher
Zook, CAZ Investments and Marc Pado, Cantor Fitzgerald, in an
interview on CNBC
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