Sept. 17 (Bloomberg) -- An unfounded concern that the U.S. economy will slip into a recession has pushed some stocks down too far, investor Laszlo Birinyi said. http://www.bloomberg.com/apps/news?pid=20601087&sid=a01ON1mh153w&refer=home
"``Good, solid companies which have nothing to do with finance, which are really immune from all these other issues, are being punished just as severely as stocks which are really tied to the issues.'' " Agreed. Why is that? No money? If you need money, unrelated stocks are sold off reluctantly. Are they a bargain? Maybe, maybe not? Are the redemptions over? If one assumes they are (redemptions) what (catalysts, other than they are a bargain) and who are going to re-buy these equities to move the price back up? Maybe a floor but momo up? Fear? Prudence, perhaps.
I remember people making the same argument that value stocks wouldn't fall during the crash of 2000. Wrong. 3 out of 4 stocks follow the market Laszlo.