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
board days false four investors jump soon starts stock until
Four days ain't enough, ... It's still too soon for investors to jump back on board until you get more confirmation from the stock market. We've had so many false starts before.
debt impression internet last margin stocks support until
never got the impression that margin debt was part of the support for Internet stocks until the last two months.
caps early foolish jump large until wait year
It's foolish to jump the gun. The thing to do is wait until you actually see large caps outperform, because if you don't wait you can be a year early .
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.
forever formula grail holy investing search until work
We're forever in search of the Holy Grail of investing and that's some formula to give us the answer, ... That's the whole problem. These things work - until you try to use them.
catch closer darn earnings market needs stayed until wait year
The market needs to let earnings catch up -- wait until we get closer to the year 2000, when we can feel comfortable that the market is not overvalued. If the market stayed the same while earnings rose, then price-earnings ratios would be so darn high.
globe markets worry
When all of the markets around the globe simultaneously go down, that's the message. That's what you have to worry about.
almost bet fed move raise rates sure
It was almost a sure bet that the Fed was going to raise rates in June. Now it's almost a sure bet, say 50-50 at least, that they won't move in June.
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.
attracts cheap drove economy good leading levels market news rally saying side stock today
The stock market rally today is because we drove the market down to levels that were on the cheap side and when you get news like the leading indicators saying things are going to be good for the economy and profits, that attracts buyers.
behind bond closely connected interest last market rates reason stock
The stock market has been closely connected to the bond market in the last two weeks, and today's stabilizing interest rates is probably the No. 1 reason behind the gains.
continues declines excuses investors market modestly money phase stock surprised using variety
The stock market has become modestly overvalued and investors are using a variety excuses to take money off the table. I wouldn't be surprised if the current, corrective phase continues and the market declines another 5 percent.
fourth internet quarter stuff tech worked year
The stuff that worked in the fourth quarter and the first part of this year isn't working any more, like Internet stocks, large-cap tech stocks, and other large-cap names.
based domestic economy fourth heard margins measured profit quarter simple strong truth
The simple truth is the economy rebounded from the fourth quarter and was very strong in the first quarter as measured by (gross domestic product). Secondly, based on what we've heard from companies, profit margins should be good.