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
adjustment declining earnings entirely four great heading inflation interest rates sea stocks
You know, we had four great years because we had declining inflation and interest rates. There's been a sea change. We now have inflation and interest rates actually heading higher. That makes things entirely different - you can't get away with high-priced earnings or overvalued stocks and so we're going through this adjustment to a new reality.
banking japanese parliament watch
We need to watch the Japanese parliament and see if they do anything about their banking crisis.
asia events good hold impact major market message overall southeast time
It is encouraging that the market has been able to hold together. The overall message is that the events in Southeast Asia will in time have an impact on the U.S. economy, but not a major impact in 1998. And that is really good news.
believe faulty investors lies lies-and-lying recession signal worried yield
I think the yield has worried investors. Some investors believe that it's a signal that a recession lies ahead. I believe that is a faulty interpretation.
market momentum remains starting
I think the momentum of the market remains positive, but it's starting to slow.
bond europe happens market means question stock tragedy
Just as the bond market and Europe has priced in what this tragedy means ... so too will the stock market. The real question is what happens at 10:30 (a.m. ET).
basis cap definitely investors large market mid quite relative rewarding small type
Large is the place to be. The market has been rewarding investors in large cap, and rewarding investors on a relative basis in mid cap, but quite frankly, it is an on-again/off-again type of thing with the small cap, and the small cap is not a place to go. The market is not signaling to me that you should play it on the small cap side, mid cap is fine, large cap is definitely the place to be.
business spending
I see business spending recovering, but not in telecommunications or telecommunications equipment.
decline groups markets oil pushing software three
Hardware, software and semiconductors are the three top-performing groups right now, and there has been a decline in oil prices. These things are pushing the markets up.
watching
We're all watching the same stuff. Like sheep.
depending earnings internet spur stir stocks watched
We have such speculation in Internet stocks already that it's earnings will be keenly watched and could stir up more speculation or spur a decline, depending on their results.
attracts far level reach
We got down too far too fast. You reach a level that attracts buyers.
headed signal toward
That was a signal that we were headed toward distress.
inclined negative positive since situation year
That's the situation today, ... Since that's the case, I'd be more inclined to think this will be a negative year than a positive year.