Christine Callies
Christine Callies
anxieties bit corporate couple election expect fourth market minor months next ok prices profits quarter stock third turn view
The election is a minor uncertainty that the market would like to get out of the way. Over the next couple of months I do expect stock prices will be better. I think corporate profits will turn out to be OK and the market will view some of the tensions and anxieties of the third and fourth quarter as a bit of overkill.
value
We think there's a lot of value in semiconductors.
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.
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.
problem sector tech
The problem with the tech sector is not so much a fundamental problem as a valuations problem.
ask questions sell
There is a predisposition to sell first and ask questions later.
ahead elections people position
People aren't going to take any position ahead of the elections.
activity analysis baby basically boom boomers combine consumer grounded life overall parents personal quality retail spending tend upbeat
We'd like to combine our overall upbeat analysis of consumer spending and retail activity with our baby boom spending thesis. And this is basically grounded on the observation that baby boomers tend to spend more on quality of life and personal indulgences than their parents did when they were at the same age.
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.
essential prices rebound share
Most of the essential catalysts for a significant rebound in share prices are present.
close enterprise street wall
Wall Street has come pretty close to being an around-the-clock enterprise anyway.
background bad bear confused market people
In Nasdaq, we've been in a confused bear market for a while. The background environment, particularly in the economy, is not as bad as people think.
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.