Ed Yardeni
Ed Yardeni
bigger bubble coming financing innovative lending mortgage places rather sorts telling
The bigger bubble is actually in the financing of homes. Mortgage lenders have loosened their lending standards. Rather than telling a lot of would-be buyers, particularly in places like California, that they don't qualify, they're coming up with all sorts of so-called innovative alternative financing.
bigger bubble financing
The bigger bubble is actually in the financing of homes.
beauty believed believes eye model nobody percent stocks
Nobody believed in the model when it said that stocks were 60 percent overvalued and nobody believes in it now. Valuation is like beauty -- it's in the eye of the beholder.
clear concluded fed rates
It's been clear that the Fed concluded rates were too low,
earnings grow inflation interest rates remain
Earnings are still going to grow as interest rates and inflation remain low.
below early earnings market predicted rise risen share time
Early in 2004, I predicted that energy's share of the S&P 500's market capitalization would rise from just below 6% at that time to 15% before the end of the decade. In January, its market-cap share was up to 12.1%, while its share of earnings had risen to 9.1% from 6.0% in early 2004.
blame costs depress earnings energy eventually fear higher investors performance price problem suspects usual
After rounding up all the usual bearish suspects to blame for the market's disappointing performance this year, I've narrowed the problem to the price of oil. Investors fear that higher energy costs must eventually depress earnings growth.
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The market goes through these bizarre mood swings. All of a sudden, people are concerned that we're in a soft patch and that it may get worse before it gets better.