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...
bit federal puts reserve
It puts the Federal Reserve in a bit of a conundrum.
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I think you're getting a bit of a safe haven -- stocks with earnings look good. If money is coming out of the Nasdaq, it is going into Dow stocks.
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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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I think we are looking for that next bit of information that's going to drive us.
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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.
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These are two very different stocks, ... Merck is one of the premier pharmaceutical companies in the world. It's selling at 18 times next year's estimates.
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An earnings boost doesn't trump a contrary verdict.
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Will the Fed keep raising rates until the yield curve's inverted? There's not much margin for error here,
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Poor J.P. Morgan. The company has got nailed on everything from Enron to Argentina and bad loans, ... But if we see the economy recover, the financial services will do well.
employers lots people
Lots of employers don't want people around who aren't loyal,
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Let's get back on that momentum boat, let's see if we can open our day-trading accounts again, ... But I can't help but think, where have you been for the past year? Haven't you learned anything? And wasn't it painful enough for you? Maybe we need some more pain, but I don't think we are going to get a lot more of it.
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Now that the dropping has stopped, when do we start with the moving back up? That is the big question.
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We need dollars being spent again, ... Most recessions always end because the consumer turns. I think a lot of it is going to be in the tech sector and the tech recovery. Most companies weren't spending on tech as they've been just desperately trying to make their quarterly numbers.
defense increased matter spending
But, no matter who wins, we're going to see increased defense spending and a lot of that is already priced into the defense stocks,