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...
core favor good growing holding intel market mentality money months next nice week
It was out of favor two months ago in this short-term mentality market. They're growing earnings. They're doing a very nice job. Intel, I think, is going to be a nice core holding for the next 5 years. This month, next month, this week, next week -- I don't think it matters. If you have money that can be in the market for 5 years, Intel is a good place for part of it.
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Ebullience and exuberance are back. For a market that has lacked direction, it is reacting tenfold to the first positive catalyst that has come along.
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The post-Labor Day rally, I wasn't sold on. The fact that we didn't really crash over summer, I thought was a terrific blessing. I think sentiment is going to drive the market from here. The numbers are there, the numbers have not changed. The economy has not changed, it is still good, slowing down a little bit. We've got a nice stable platform. Earnings for second quarter were fabulous. They ought to be pretty good, I think, coming in here to the third quarter.
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They've got a huge market share, ... They're the industry leader. American Power Conversion is growing earnings at about 18 percent.
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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 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 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.
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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.