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August 17, 2011

CNBC: Gary Flam Quoted in “Didn’t Sell in May? You Still Might Want to Get Out Now”

“Didn’t Sell in May? You Still Might Want to Get Out Now,” by Jeff Cox, CNBC.

Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles, said the current environment reminds him of the late 1970s and early ’80s when investors were being chased from the market.

“In every selloff investors are selling equities, then they buy into rallies but not as much as they sold,” he said. “You’re getting a period where you’re gradually whittling away at equity exposure and it’s all setting up for the next secular bull market.”

Flam said he thinks unexpected good news out of the US or European economies will help turn sentiment and get investors back into the market once the current correction runs its course.

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