Hugh Johnson
Hugh Johnson
Hugh Johnson OBEis a British author and expert on wine. He is considered the world's best-selling wine writer. His 1961 tasting of a bottle of 1540 Steinwein from the German vineyard Würzburger Stein is considered to potentially be one of the oldest wines to have ever been tasted...
ProfessionNon-Fiction Author
Date of Birth10 March 1939
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If you're not a day trader, I would say don't do a thing. If you're buying for the long term, you'll be just fine.
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If you're going to bet on economists and strategists on one hand, and the markets on the other, take the markets every time.
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I don't think it changes anything for Federal Reserve policy. Various early warning signs of inflation are still telling us they have to raise interest rates by 50 basis points and they are likely to do so when they meet next week.
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The reason the (stock) market is struggling is that concerns about the economy and earnings are deepening, ... We don't see anything that says the current profit recession is going to end.
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The good news was good enough to more than offset the worries about wages and Federal Reserve policy. There is an emotional component to the market today. Some speculative spirits are starting to stir.
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Trying to manage money in this environment, you can't imagine how stressful this is.
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Tobacco is the best performing industry in every single bear market,
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There are a growing number of investors who believe the market has hit bottom. Investors with cash are feeling pressure to get in. Good markets beget good markets.
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The price is down some, but it's clear that oil is at a level that raises serious questions about the U.S. economy and earnings going forward.
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We call it a potential critical fire danger stage. We extremely discourage any outside burning during a red flag.
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When you see buying in that (technology) sector in a bear market, it implies that there are investors out there who see improvement around the corner, and it's usually technology and cyclical stocks that lead the market out of a downtrend. The bias towards Friday's data may be that the data will be consistent with the view that the economy is showing some expansion.
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Tomorrow, the market will probably continue upward driven by the dollar, but it won't go up much because of caution before the employment figures.
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We are gradually, slowly building investor confidence that the profit recession will end, ... What's leading to the bullishness is not anything you are currently looking at. Earnings are dismal, but investors are becoming more optimistic that the profits recession will end.
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The question is when will the earnings recovery begin and how strong will it be.