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Carl Quintanilla and Joe Kernan of CNBC talk with Hank Smith, Chief Investment Officer of the Haverford Trust Company, for his take on the credit situation and market volatility. Smith acknowledges that we’re in unchartered waters given this credit freeze, and that unknown is driving the fear and panic. “Long term investors have to stay patient,” says Smith. “Bear markets do not end on good news, only bull markets end on good news, and bull markets start while the news is bad. So investors need to stay patient, and they need to focus on quality and predictability.”
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