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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These companies wouldn't be making these deals if they didn't have cash and if they didn't see strong economic growth ahead, so the deals are positive for sentiment.
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They go into enterprise technology where they allow companies to access all kinds of systems in a secure mode. The company continually introduces products, ... We just jumped in, even at these levels, just about a week ago. We'll continue to buy this stock for many of our accounts. Our analysts are very high on it. We expect it to outperform the market over the next six-to-12 months.
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Certainly we like certain specialty retailers. We like the regional banks. These are companies and industries that have earned money through the recession, are continuing to earn money and seem like reasonably safe bets,
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Most analysts are calling for the market to rise between 5 percent and 10 percent next year, but I think it could be more like 15 percent. The economy is heating up, the employment picture has been improving and companies will begin spending more.
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I do like computer software, and electronics. And therefore, you know my top picks right now would be large-cap companies in a high-growth area with good, solid, clean balance sheet, good return on equity and good earning projections.
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In general, the news continues to be mostly good, but people are now waiting to see what the next rotation will be in stocks, or what the next catalyst will be to move the market higher.
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In most election years, stocks are up. But when you think about the kinds of policies that are going to be implemented, the market gets a little worried. So, I would say up until the election you will see some very interesting dynamics. If they feel that a demonstration is favorable, drug stocks will get in then and all of a sudden the drug stocks will start looking hot. If the economy seems to be moving along nicely the high-tech new economy-type stocks will continue to do well,
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I kind of like consumer non-durables, (they are) all expected to earn 20 to 25 percent or better this fiscal year, ... They have good returns on equity, 15 percent plus. And I think they're priced appropriately within their price-to-earnings multiples.
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Stocks rose sharply after the Fed cuts in the first quarter of 2001. So Fed action now could help.
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The retail earnings are likely going to be strong and that helps the market.
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The new orders index was better, profits are going to be up a little, interest rates are at a record low, there have been so many layoffs that that may start to dry up, there will be rising productivity and higher profit margins -- all these things combined could give some support,
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I like AutoZone because it's got a rate of return on equity, somewhere in the neighborhood of 40 percent, ... It's got a great franchise. As the auto stocks get older and retail sales for autos are off a little bit, it means that the stock will get older and you have to repair your cars. And they're getting into the diagnostic lines, which helped.
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I love it. This is a market you've got to buy. You have a record amount of cash sitting on the sidelines wanting to go to work. A lot of the uncertainty facing the market even just six weeks ago has been resolved, such as worries about the cost of rebuilding Iraq and higher energy prices and corporate profits.
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It's recorded strong earnings over and over for the last couple of years. We've held it for the last couple years and made out very well. And it's trading at pretty much its high,