As the saying goes: "IT'S EASIER TO SAY THAN DONE..." On 6/28/08, Pusat Dunia <[EMAIL PROTECTED]> wrote: > > FundWatch: Now's the time to buy and hold, says T. Rowe Price's Rogers > > Published: Friday, June 27 2008 > > > T. Rowe Price's Rogers says tough markets contain lots of opportunities > > > CHICAGO (MarketWatch) -- Investors may be seeing the "peak of negativity" in > the markets these days, and that's exactly why buy-and-hold types should be > on the lookout for opportunities, T. Rowe Price's chief investment officer > said on Friday. > > "Sentiment is so negative right now that you can't help but make money in > some of these companies if you take a three-year, buy-and-hold horizon," > Brian Rogers told attendees of the Morningstar Investment Conference. He > expects it will take the next couple of years for the market to recover. > > Where to look for opportunities today? Rogers, also the veteran manager of > T. Rowe Price Equity Income Fund, said that investors with a reasonable time > horizon should consider the battered financial sector. > > "Buying into stress is usually a good thing to do. And if you look for where > there's the most stress right now, you go to the financial sector," he said. > There are also opportunities to invest in the higher-quality end of > fixed-income markets, including mortgages, he added > > In addition, he advised those in the audience to look across sectors for > good management and strong balance sheets in firms with a history of > surviving when times are bad. Even though the stock price may be down, he > said, there is still value in strong companies that will be realized in the > future. > > "Invest in companies that have been in downturns before, that can survive > periods of stress and that are long-term survivors," he said. "You have to > look for companies where you trust management ... and where you think they > will not bet the ranch on a bad strategy." > > One example: United Parcel Service Inc. While investors have soured on the > stock on concerns about its earnings, Rogers sees this company as a survivor > for those who plan on keeping the shares for a while. > > "UPS is a great company, with great financials. They've been in business > forever," he said. He also pointed to news that the company was changing its > routes so that trucks would make only right-hand turns -- a move that will > save on gas costs. > > "I love a company like that. I don't care what's going to happen next > quarter," he added > > Rogers' biggest fear, however, is the issue behind UPS' creative savings > plan: the high price of oil. He doesn't think the price of oil is > sustainable, yet he also worries for the well being of consumers who are > contending with high gas prices at the pump and higher food prices. > > "It's as if the tax rebate checks came out and were recycled to the oil > producing countries," Rogers said > > > > > > > > >
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