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
believe continue convinced earnings fed foot growth interest investors migration rates reduce reflection toward until value
It's a migration toward value as a reflection that investors believe the growth rates of earnings are slowing. It will continue until investors are convinced that the Fed will take its foot off the break, or reduce interest rates.
became believer built buy debt everybody stocks
These stocks are so extraordinarily overvalued, and a lot of debt was built up to buy them. Everybody became a believer and had to be on board.
anytime believe bottom fish industry problems reason solved
Would I bottom fish in these industry groups? Emphatically no, ... I see no reason to believe these problems will be solved anytime soon.
ambiguity appears believe bit federal good governors increases lack news rate reserve though
When it appears as though the governors of the Federal Reserve believe that the end of the rate increases is near, that's very good news for investors. A lack of ambiguity from the Federal Reserve is always a little bit of a shocker.
believe cash feeling good growing hit investors market markets number pressure
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.
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.
days fourth percent
I know we were up 4 to 5 percent in the first to 10 days of the year. But the market's now up 20 percent, just like the fourth quarter.
bear cares closet company earnings economy last learned moved oriented people problem referred research truth
I'm referred to as a fundamentalist -- a person who cares about company earnings and where the economy is going -- but the truth is I'm a closet technician. I've learned something as we've moved through the bear market: The last people to find out about a problem are research analysts and fundamentally oriented strategists.
close fact market race reflect
It's still way too close a race to call, and I think the market will reflect the fact that it's still up in the air,
investor requires respond
It's still very painful, and it still requires you as an investor to respond to it.
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It's not good news, ... Even though the focus is on the Middle East and oil prices, these numbers clearly are not going to stabilize the markets.
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Everybody is waiting for the employment report on Friday. The belief is that the economy is rebounding from the sluggish fourth quarter. We will know on Friday.
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Everybody is going to know the same, but it's going to be less. The disclosure of information becomes more carefully managed than the Federal Reserve manages the disclosure of information.
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The biggest risk in 2006 is that the Fed will be seduced by worries about inflation into raising rates too high. A lot depends on what the 10-year does and while I would hope that they would take notice that it's going down in yield, the question is whether they will take it seriously or dismiss it.