May 8, 2010

Michael Hartnett on buying the global equity dip

We've had a 10% correction now in global equity markets. I think we'd like to see the policy actions that give us the buy-signal that say "It's safe to go back in now" and we haven't seen that yet. We're not willing to say right here and now, move back into equities. I do think, however, if you have a list of best-of-breed, or the large-cap multinationals [that David's been talking about] that you like and that you trust those companies, now is a very good opportunity to start purchasing those again.

~Michael Hartnett, Chief Global Equity Strategist, BofA Merrill Lynch Global Research, "Market Update: Is Volatility Back?", May 7, 2010

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