Christine Callies
Christine Callies
problem sector tech
The problem with the tech sector is not so much a fundamental problem as a valuations problem.
bullish might people sales sector tech volumes
Sales volumes in the tech sector might be erratic... it's nothing serious, but just not as bullish as people would like,
actual equity managers money percent rare three
There's more gamesmanship in this profit-taking than actual concern. Money managers have now had three years of 20-plus percent equity returns. They know this is rare and they are cashing in.
essential prices rebound share
Most of the essential catalysts for a significant rebound in share prices are present.
doubt evidence fact markets starting
We doubt that the markets are going to take off here. I think we will need more evidence that in fact things are starting to turn.
area areas buying call change companies included meaning structure tech technology trying
We're buying technology areas very selectively, ... and we're branching out into an area that we would call tech proxies, meaning there are very often 'old economy' companies that are trying to change their structure so as to be included in the new economy.
ability cannot change debt drivers importance policy profit since
Since the ability to refinance or restructure debt is one of the incremental drivers of a profit trough, the importance of this policy change cannot be overemphasized.
bond caused fed indication lower market monetary particular reason start talking yield
We don't see any indication that the Fed would have caused to start talking more tolerantly about monetary policy. And we don't think the bond market has any particular reason to go down to lower yield levels.
value
We think there's a lot of value in semiconductors.
cash higher holding level morris near philip quite stock trading
For instance, I think conglomerates such as Philip Morris (are) a cash cow, ... The stock is doing quite nicely, holding up around near the higher end of the trading level here.
difficult highest paper sell unless
It's difficult to sell any paper right now unless it's of the highest quality.
data economic market push
Economic data is going to push the market back and forth.
It very often doesn't take off right away,
al approach companies compared corporate cuts directly economy either flow friendly guess lean mean means prefer profit stimulated tax ten
Tax cuts would probably flow directly into corporate profits. Companies are lean and mean today, compared with where they were ten years ago and if the economy is going to be stimulated by either tax cuts or new spending, I would prefer tax cuts. I would prefer the approach that is more profit friendly so I guess that means I don't prefer Al Gore's approach.