Lord Abbett Veteran Sees Tremendous Buying Opportunities in the Market

Be it large-, medium- or small-cap, value or growth, there are buying opportunities galore in the stock market, according to veteran Lord Abbett value manager Robert Fetch. “I am seeing valuations I haven’t seen in decades, across the capitalization spectrum,” Fetch told Barron’s.

As to when the market will finally bottom out, Fetch doesn’t believe this is possible for another year—even possibly not until mid 2010. But even now, he sees valuations that are attractive and that he is comfortable buying. Quoting Warren Buffett, Fetch quips: “Be fearful when people are greedy, and greedy when people are fearful.”

For his part, Fetch adds: “We have gotten to the point where it pays to be a bit greedy, because there are some unusual opportunities being created right now.”