Don’t Believe the Rally? Bullish Fund Manager Says That’s Why He's Buying Posted Jun 19, 2009 12:17pm EDT by Peter Gorenstein in Investing, Recession, Banking Related: ^DJI, ^GSPC, Auerx Not only will stocks not retest the lows--they'll keep soaring, says Bob Auer. The senior portfolio manager with the Auer Growth Fund, Bob says this is one of the best buying opportunities of his career going back to the mid-80s. He points to several reasons for a sustained rally. First, if the market rally fades, investors who have missed the rally will be anxious to buy on the dips. Second, everyone else is negative (often a good sign). Third, a recovery is "guaranteed." “My research shows that from 1892 to 2009 there have been 24 recessions, including this one," Bob says in his most recent letter to shareholders. "The previous 23 recessionary periods all turned to economic recovery and expansion with corresponding stock market gains in tow. This one will be no different…” The Auer Growth Fund is up more than 17% this year after getting clobbered last year. It's a new fund, but Auer's long-term track record on his personal accounts--verified by an independent firm--has been very impressive.