Mom on Finance

Mom got interviewed by the San Jose Mercury News on the occasion of the Dow breaking 13,000:

"It's nice to see it go above 13,000. But big deal," said Rochelle Rubenstein, a Los Gatos resident who belongs to a private investment club called Gelt.com - gelt being Yiddish for money.
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Today, a round of profit-taking may well send the Dow back below 13,000, said Rubenstein and some investment professionals.

Even so, it's obvious that the upward momentum of stocks reflects a broad investor confidence in equity markets as a whole. It took less than six months for the Dow to surge from 12,000 to 13,000 - compared with the 7 1/2 years it took for the index to go from 11,000 to 12,000.
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Wednesday's run-up helped extend the Dow, S&P and Nasdaq gains for the year. Each index is up about 5 percent since Jan.1.

At the moment, rank-and-file investors seem optimistic.

"My outlook? The market goes up, the market goes down. But mostly up," Rubenstein said. The Gelt.com Investment Club, founded in 1992, meets monthly. In its last meeting, she said, the club decided to sell Johnson & Johnson, bought five shares of Google and also invested in SunPower, the solar subsidiary of Cypress Semiconductor.

Now you all know where I got my investment philosophy: "The market goes up, the market goes down. But mostly up."

Posted by BradRubenstein at 10:45 PM | TrackBack