Michael Carty
Michael Carty
Michael Cartywas an Irish Fianna Fáil politician. Born in Loughrea, County Galway to Lawrence and Josephine Carty, he was the eldest of seven children. A schoolteacher by profession, he was first elected to Dáil Éireann as a Fianna Fáil TD for the Galway South constituency at the 1957 general election. From 1961 to 1969, he represented the Galway East constituency, and from 1969 to 1973 the Clare–Galway South constituency. He retired from politics in 1973...
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I think we're seeing investors being convinced that we hit the bottom and from here we'll go through some softening of the economy. But if we're going to get back into the market, we want to do it now because the market is a leading indicator.
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I think a couple quarters down the road, the worst will be over. This is a terribly oversold market and it is undervalued.
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I think tomorrow should be a fairly positive open, with the techs a little higher on Microsoft and in response to the action over the last few days. We've had a couple of ugly sessions and you're likely to see a little bounce off of that.
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I think the stock action has been very positive. It's getting to the point where people are more afraid of being out of the market than getting in it.
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Markets tend to be very uneasy during the election year. One of the problems is that no one wanted to make a big commitment without knowing who was going to be at the helm.
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I was very impressed with the last couple days' performance, in particular with the Dow, which rallied nicely. But we're in this pre-announcement period and although there haven't been too many negative comments, there's some hesitation on the part of investors because of that.
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People are looking forward to 2006 and expecting to have more difficulties.
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People are selling into some of the gains from the run this year and moving into the more defensive names. I think you could see more sideways movement for the next few weeks.
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I think the markets are basically making time as a result of the Iraq situation. The negatives are being played up, and the positive things not absorbed. With a modest resolution to some of these things we might see a market rally.
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I think the market came down over the last few days and is recovering now, and that recovery can probably continue through the end of the week.
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I think the energy prices are going to overhang us for a while, maybe a good long while. It's looking like there's going to be a problem with fuel prices again, and the markets are concerned the consumer is going to be tapped out by the end of the year.
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If a company is so sure that their stock is a bargain that they're willing to buy it back, that's reassuring.
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Today, American Power Conversion Corp., woke us up with a fairly bad report, and I think that's what's been keeping everybody bothered,
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We like auto parts and accessories; we even like Pep Boys. They have a return on equity similar to AutoZone, which has a return on equity somewhere in the neighborhood of 40 percent,