"Keep in mind [that] the market has recovered from every bear market in history except for this one. Unless this becomes the beginning of the end for the U.S. economy, then this too shall pass, and we will recover and move higher over time."

-- Michael Farr,

The Farr View

Washington

"It is still a bear market until proven otherwise, and there really is no reason to rush back into stocks at this point of the cycle. If a bull market does indeed emerge from this carnage, there is going to be ample time to take some very worthwhile positions in the emerging leadership. . . . Our goal is to buy . . . stocks at the most opportune time. What is required is a combination of boldness and patience. Now is the time for patience."

-- Dan Sullivan,

The Chartist,

Seal Beach, Calif.

"Most technology funds are down in excess of 50 percent, just this year. This is on top of the 30 percent declines in each of the prior two years. This does not add up to more than 100 percent, due to compounding effects. Once a fund drops 50 percent, the next 50 percent brings the overall decline to 75 percent."

-- Ron Rowland,

All Star Fund Trader,

Austin

"Almost all of my favorite and most respected value-stock fund managers are enthusiastic about the large number of quality bargains they are finding. In addition, except for the large companies that dominate the market indexes -- especially technology companies -- earnings at many companies are increasing. The growth might not be as high as in the late 1990s, yet these are real, unmanipulated earnings, and they are growing."

-- Bob Carlson's

Retirement Watch,

Annandale

"The cycle is nearly complete. The old saying about being darkest just before the dawn is really true. Some spectators are now saying American capitalism is dead or that we seem destined to follow Japan into years of recession. Other spectators say that today resembles the 1930s. But people underestimate the ability of our open markets to adjust and rebound. Look how quickly our society has responded to issues surrounding corporate and Wall Street malfeasance. And the Fed hasn't hesitated to ease monetary policy and cut interest rates, in sharp contrast to the monetary policies of the Great Depression era."

-- Richard Leader,

The Leader Letter,

Houston