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Bulls & Bears
This past week’s Bulls & Bears: Gary B. Smith, Exemplar Capital managing partner; Pat Dorsey, Morningstar.com director of stock research; Scott Bleier, HybridInvestors.com president; Tobin Smith, ChangeWave Research editor; Bob Froehlich, DWS Scudder chairman of investor strategy; Cheryl Casone, FOX Business Network; Marc Lamont Hill, Professor of American Studies at Temple University.
Trading Pit: "President" Al Gore: Good or Bad for Stocks?
"President" Al Gore? He has an Oscar, an Emmy — now a Nobel Peace Prize — is the next trophy the oval office? And would the green president bring green or red arrows to Wall Street?
Gary B. Smith: A “President Al Gore” is unlikely, because he definitely won’t run. But, if he did run and won, the market would crash!
Marc Lamont Hill: Al Gore represents a level of hope, possibility and experience that Senator Clinton and Senator Obama do not. Gore would signal a type of economic prosperity for everyday people that we won’t see from anyone on the left. He has a different level of political courage and will than anyone else we’re seeing right now.
Tobin Smith: Senator Clinton would be better than Al Gore as president! Gore would sell out the economy for global warming.
Pat Dorsey: It depends on what his policies would be. If he brought someone like a Bob Rubin, who was in the White House as Treasury Secretary for some fairly prosperous years in the Clinton era, that would be viewed very positively. If he leaned more towards the protectionist rhetoric of the Democratic base, then that would be problematic.
Cheryl Casone: The first thing Al Gore would do if elected president would be to push his green policies. That would be good if you own alternative energy plays, but for someone that owns fuel and energy stocks, it would be bad news.
Scott Bleier: This is not such a far-fetched idea. It would be good for stocks if he ran for president. Given the choice between a “President Hillary Clinton” and “President Al Gore” I would take Al Gore. He would do more for the economy.
A New Bull Market for the Housing Market?
Gary B. Smith: When housing stocks start to tick up as they have over the last month that usually means the housing market is going to start to tick up as well. With high employment and low inflation the next bull market will be a housing one.
Scott Bleier: The only way we are going to have a new housing bull market is when the Federal Reserve takes rates to one percent. In order for that to happen a recession needs to happen first, which is not going to happen. Housing is not going to have a bull market for another six to ten years.
Cheryl Casone: Real Estate is good long-term investment. If you have the cash to spend there are a lot of good deals out there.
Tobin Smith: We have had a once in a lifetime housing bubble. It will take six to ten years to bring this back. Inventory is now at fourteen months; it needs to get down to six months. And only when it is at six months, then we’ll have a housing bull market.
Bob Froehlich: Buy a house to live in, not as an investment. Over the last thirty years home appreciation has been six percent a year, and the stock market appreciation twelve percent a year. The best place to invest is in our equity market, not the real estate market.
Celebrate the 5-year bull market "Bulls & Bears" style with the best stocks for the next five years.