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
burned careful investors market seen stake thinking
You have to be careful about prejudging this - I've seen so many investors burned at the stake thinking things like 'Value is about to come back,' ... Let the market tell you what to do. Don't tell the market what to do.
care defensive fairly frankly good health investors last lifted month move performed quite recently relative somewhat stocks
You had a pretty good move in biotech this year, and biotech really has quite frankly lifted the health care and the drug stocks recently because investors have become somewhat defensive -- say in the last month or so -- and have also, on a relative basis, performed fairly well.
earnings economy move questions raises serious time toward
Every time (crude prices) move toward $50, it raises serious questions about the economy and earnings in 2005.
companies good market sector
Every market sector has a lot of good companies in it.
became bull companies extent hit market next numbers optimistic week
As the bull market progressed, analysts became more optimistic about next year's earnings. Now, it's the extent to which companies will hit their numbers for 2004 that will make next week so important for the market.
bond business needs stock takes transition
As the transition from the bond business to the stock business takes place, the stock business needs to recover.
alone common common-sense energy says
Common sense alone says energy is not going to be the leader.
bothers extremely markets
This thing that bothers me is you get into markets like this and they can go from being overvalued to extremely overvalued,
companies south taking
There have been a lot of high-profile companies taking a lot of extraordinary drops. When things go south for a company, they really go south.
current immediate investors major market next shake sitting summer therefore worry
There's no news, nothing I see on the immediate horizon, next week, that would shake the market out of its current malaise or end the summer doldrums. There are so many things to worry about, and investors are therefore sitting on their hands, not making any new, major commitments.
concerns cut defensive economy effect eliminate january letting market overall rate shift stocks tax turn watch
Is the possibility of a tax cut and a rate cut enough to eliminate or neutralized the concerns about the economy and earnings, letting the January effect play out, ... Watch the overall market and if the shift from defensive stocks to economically-sensitive stocks continues, it may be enough to turn the tide.
interest rates worry
The worry is that the lid, or the cap, on interest rates is now off.
include leading numbers
These are the really important numbers because they give us a first look at January, and they include leading indicators.
challenge concern interest oil policy present prices rate rise troubling
The rise in oil prices and concern over the Fed's interest rate policy are very troubling to the market. That's going to present a challenge to this rally.