September has been bleakest month for stocks

The Ticker

September 01, 1999|By Julius Westheimer

INVESTMENT ADVICE for your hard-earned money:

"September is historically the year's worst month," says the 1999 Stock Trader's Almanac. "Its dismal performance makes it the only `loss' month, down an average 0.3 percent over 48 years."

"Utility investing isn't the simple process of past decades. Risks are up, so are rewards. If you buy `income' utilities, find steady dividend growth and avoid the highest-yielders as excessive returns often precede a dividend cut," says the American Association of Investors Journal.

"Bonds are currently undervalued, with high yields relative to inflation. When bonds are bargains -- such as now -- they generally brought total returns (gain plus income) of 20 percent over one year." (Interest Rate Research Corp.)

WALL STREET WATCH: "Don't discount a major correction. Interest rate concerns and high stock prices dominate trading. Buy on dips." (Dow Theory Forecasts)

"The market is like a cartoon character a few feet beyond the edge of a cliff, clutching an anvil, and hovering for a minute before plunging into the abyss." (Hussman Econometrics)

"We're very negative, with breadth indicators bearish and adviser sentiment far too bullish." (Investors Intelligence)

"Don't be swayed by the sound and fury of hundreds of second-tier stocks. They really haven't made much money." (Laszlo Birinyi in Forbes)

"When the music stops this time, we may look back fondly to 1987's Black Monday. It's high time to cut back on stocks." (Martin Sosnoff, investment adviser)

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