Chuck Hill
Chuck Hill
beat beating estimates less lining looks normally silver start until
It looks like we are going to beat the estimates by less than we normally do. Until we start beating them by more than we used to, there's no silver lining in these reports.
correction high learned lessons people rebound september shares since technology
The rebound in the technology shares since September 21 has been huge. I think the valuations are too high again. I don't think people learned their lessons with the correction we had.
companies good next week
We got a lot of companies this week, but it wasn't a good cross-section of industries. Next week is a much better cross-section. But so far, so good.
april expect lower numbers somewhere week
We expect the numbers to be somewhere lower by the week of April 13, when all the (quarterly earnings) announcements will have been made.
certainly looking negative
We certainly think it will end up in negative territory. I think you've got to be looking at 2002 for any recovery.
decline estimate percent reporting
We're doing about what we expected. Going into the reporting season, the estimate were for a decline of 18 percent and we said we thought we'd end up about down 15 but may end up down 16.
negative people season upset
Every quarter, people get all upset when the pre-announcement season is on and it always has a negative bias. I don't think there is anything to be alarmed about.
bad good news slope somewhat worries
The good news is that the recovery's in sight. The bad news is that there's a lot of uncertainty about what the slope of the recovery's going to look like and worries that it'll be somewhat disappointing.
earnings fourth positive quarter
On the earnings front, there's not much on the positive side. ...The fourth quarter is going to be a disaster.
worse
I would have expected, even without FD, to see more preannouncements this quarter. Things are worse out there.
case decline earnings since war worst
But this decline is deeper. You could make the case that this is the worst earnings decline since World War II.
cases following gone loss
But for the following year, they have narrowed the loss and in some cases gone to profitability.
time
Now we'll see if this time it's going to be different.
afraid community investment modest question recovery slope
Now the big question is what the slope of recovery is going to be. I'm a little afraid it will be more modest than most of what the investment community expects.