Financial consultant sees better economy ahead - WALB.com, Albany News, Weather, Sports

Financial consultant sees better economy ahead

^ financial consultant Pat O'Lear ^ financial consultant Pat O'Lear

 

 

January 3, 2003

Albany-- Financial consultants in Southwest Georgia say 2003 offers good investment opportunities. Stock brokers are advising their clients to continue their investment strategies, looking for the economy to bounce back strongly in the coming year.

A.G. Edwards and Sons financial consultant Pat O'Lear catching one of his clients up on the post holiday trading news. O'Lear says only once before has the stock market had three down years in a row like now.

O'Lear said "The fourth quarter was definitely positive. The third quarter was a little above expectations. Everyone had decided we were going to have a bad Christmas season. Most of the retailers have announced numbers above everybody's poor expectations. The economy is on the way back. We are well out of the recession."

With the prospect of war looming, O'Lear says that will kick the nation's economy into high gear. "Young men and women going into harm's way. But war historically, if it is not too long or too drawn out, it's been fairly positive for the economy. Those bullets that are shot, and rockets that are fired, and missiles that are fired, have to be replaced. So they have to be manufactured and that means jobs. If you remember in 1991, it was the Gulf War that pulled us out of that relatively short recession."

O'Lear says the stock market is a good buy now for investors who have time to let their investments grow. For people who need a quick return, it's a much tougher time right now.

The bulls just couldn't make it two in a row following Thursday's big rally, but the profit taking was limited and stocks ended narrowly mixed. Friday's Dow Jones industrial average ended down nearly six points at 86.01.

For the week, the Dow gained 298 points.

posted at 4:44PM by jimw@walb.com

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