Hugh Johnson Quotes
I do detect apprehension [among small investors]. The real test will be when small investors start taking their money out of stock market funds and into money market funds. 
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Detect | Apprehension | Small | Investors | Real |
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Each case is a different story.
- Hugh Johnson
[Hugh Johnson, chief investment officer at First Albany, suggested that fear -- as much as fundamentals -- is driving the market to levels once considered out of reach.] It's a vicious circle... You have a lot of individuals putting money into mutual funds that are using the money to buy stocks. You're simply afraid to be out of the market. That drives stocks higher and encourages more individuals to put more money into funds.
- Hugh Johnson