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
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.
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.
actual calculate driving investors market paying together year
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.
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 .
canada coming might run southern time warming year
It's coming from southern Canada. We're in that time of year where even Canada is warming up now. We might make a run at 70 by the end of the week.
earnings enjoy estimates fourth good picture primarily quarters reducing third tougher year
The earnings picture is really good now, but, you know, enjoy it while it lasts. Third and fourth quarters of this year are going to be much, much tougher earnings seasons, primarily because analysts are not reducing those estimates and the comparisons are going to be very, very tough,
impressive last meet ongoing percent production ramp seen strong truth year
The truth is with Harley-Davidson, like a lot of other companies, like Wal-Mart and Target, we've seen ongoing, strong demand, ... Harley-Davidson's production has had to ramp up 15 percent per year for the last 10 years. That's pretty impressive and it's all been done to meet that ongoing demand.
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.