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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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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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.
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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.
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Would I bottom fish in these industry groups? Emphatically no, ... I see no reason to believe these problems will be solved anytime soon.
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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.
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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.
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Tobacco is the best performing industry in every single bear market,
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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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Trying to manage money in this environment, you can't imagine how stressful this is.
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(This) week is time for two steps forward,
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(This) week is going to give us a lot of important information about the start of the third quarter,
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What's driving the market is speculation. You put together actual year earnings, you also calculate price-to-earnings multiples right now and what investors are paying for is really out of whack. It's too high.
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What Oracle did is it demoralized the rest of the technology sector.
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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.