Bill Meehan
Bill Meehan
William Thomas Meehanwas an American Major League Baseballpitcher. He played for the Philadelphia Athletics during the 1915 season...
appreciation bias change contrary earlier exuberance fed hoping increased likelihood market neutral opens people
Contrary to logic, people were hoping the Fed would change their bias to a neutral stance. Part of the exuberance earlier was an increased appreciation of the likelihood that we would have a president-elect before the market opens on Monday.
bear blue chips market optimistic people turned
A lot of people have turned much more optimistic that once the blue chips get hit, that indicates the bear market is dead. Valuations are down, but they're still not cheap.
deal earnings evidence further good market realistic weak
I think that's evidence that a good deal of any weak earnings is priced into the market because the expectations have been lowered by analysts and further lowered by realistic expectations of the Street.
bear capital certainly clearly degree expect exposure investors less market pare picture signs technology
Clearly there are signs that we are going to see a much less rosy picture in capital investment, and we're certainly in a bear market in technology. I would expect many investors still have not been able to pare back their exposure to technology to the degree that many would like to.
concern couple earnings greenspan growth market past
In the past Greenspan has implied market valuations are OK. as long as earnings growth is sustained. But there's a lot of concern valuations are too high?and now we've had a couple of earnings warnings.
bush dealing mandate market neither particular piece president strong terribly
The market is always dealing with uncertainty, and this particular piece of uncertainty is not terribly complicated. There will be a President Bush or a President Gore, and neither will have a strong mandate from voters.
saying
Saying the right thing and doing the right thing are different.
hold last people rethink seem shoot since stocks tech thesis year
People that are overexposed in tech should rethink the thesis that many seem to hold that since stocks are down (significantly), they are going to shoot to the sky. Last year was an anomaly.
asia expected people question technology
People expected that Asia was pretty much over, and things would get better over the better part of the year. Now, that's called into question here, and technology is a pariah now. And I think there's probably some more downside, near-term, for technology.
fear
There's not enough fear and there was too much hope.
certain extent greater impact larger major people problem
I think it will be to a greater extent a larger problem than most people anticipate. Obviously, it's going to have a major impact on certain industries.
fun investors months trading visibility
I don't think we're in for Armageddon, but there's not going to be any visibility on earnings. So we've got months of trading fun and investors can go to the beach.
certainly corporate economy help
I don't think it's going to help the economy very much, and it's certainly not going to help corporate profits.
cap concerns cross favorite large stocks talking tech
There are analysts out there talking up their favorite tech stocks. On the other hand, there are still concerns that large cap tech stocks may be doing some pre-announcements, so there are a lot of cross currents.