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I was recently interviewed for a press release through a financial question and answer format. One of questions asked of me in interview was:
Where do you think stock market is headed over next five years?
My Answer!
Charles M. O’Melia: No one knows! There is an old Chinese proverb that goes something like this: “He, who could foresee events 3 days in advance, would be rich for thousands of years.” On a long-term basis I have only witnessed expansion and progress. I believe that to be nature of our American economy and our American way of life. And as our economy goes, so goes stock market and I see no reason to change that belief.
Who would have thought expansion in China would generate 5 billion dollars of business for GE? The US companies listed on New York stock exchange have ability to profit throughout global expansion of business around world. And, an investor can profit without necessity of having to own an overseas fund or companies to profit.
Up until that question, thought of what market was going to do tomorrow (or for that matter, 5 years from now) have never concerned me. I never gave it a thought (Well, maybe a little!). There just isn’t enough concern on my part whether we are heading for a bear market or a bull market, or if markets are heading sideways.
When you own a portfolio filled with companies that have a history of raising their dividend every year, and a systematic approach of adding more shares to portfolio through dividend reinvestments every quarter, plus having a simple savings plan with an opportunistic buying approach of adding even more shares to portfolio every quarter, it really doesn’t matter. I am always buying more shares.
