Michael Farr
Michael Farr
Michael Farris a British expert on the comic series The Adventures of Tintin and its creator, Hergé. He has written several books on the subject as well as translating several others into English. A former reporter, he has also written about other subjects...
beginning begins bit july kinds leadership looked market might report rest search seeing shown sort summer
I think we've been in a search for leadership in the market. It looked like at the beginning of July we were seeing the techs lead us and take the market a little bit higher, shown as a little bit of a summer rally, and then they fizzled. And so did the rest of the market. And we've just sort of swooped lower. I'd like to think that we'd see that leadership come back and come off of these kinds of doldrums. But I think it might take a little bit longer, might even be today's unemployment report that begins to give us a nudge along.
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People are more likely to enjoy, stay in and be successful at a career that suits their interests and skills. For these reasons, they would be wise to spend some time considering what they want.
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I think things overall look pretty good. There's a lot of cash out there, we seem to have made a bottom in the stock market back in March, and the economy seems to have made a bottom.
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I think we are looking for that next bit of information that's going to drive us.
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I warn people not to put too much emphasis on earnings. Look for jobs where you can hang your hat. Where you can be happy.
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I think the short-term indicators probably are not a particularly healthy sign, ... Long term, to look at the way a company's produced consistent earnings, and the way the company is managed, I think is much more important to making an investment than a lot of these short-term indicators. But, in a bull market, there's no such thing as bad news. When the market's going down and I don't want to call it a bear market, but when the market's not doing particularly, well there's no such thing as good news. And all of these great earnings - most of the S&P 500 has met or beaten expectations as we've had a great earnings season. And the market doesn't really seem to care. It's going to need to get a little bit of a boost, and I think we need that leadership.
companies
I also like Microsoft, and I particularly like EMC, ... These companies are going to come back.
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Greenspan has been like a dog with a bone, very tenacious, ... I think the Fed will make a mistake. They will go too far. They always go too far.
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Higher energy prices are (affecting) the economy - and it's a big deal. It's putting a squeeze on consumers and Corporate America.
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If Microsoft is the only game in town, then they are going to negotiate with the state and the city,
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I'm buying EMC. I think it's been killed. I think it's a leader in the storage industry. The stock has 30 times earnings, growing the earnings 25 percent.
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If you're going to invest, invest in something that's more real, ... Like the old Wendy's commercials, 'Where's the beef?' Find some real beef in these stocks.
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I don't think the bull market's over, but I think it's getting tired. I think it's slowing down, and I think it's going to continue to creep ahead, but I think you've seen the fancy action for a while.
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I like Citigroup as a nice core holding. It's a big money-center bank. They do have some exposure, of course, to Salomon Smith Barney in the brokerage industry, ... This stock has pulled back in here, $44.95 a share. I think that it's going to grow those earnings at around 14 percent -- 11 times and 12 times earnings, that's a cheap stock.