Michelle Clayman
Michelle Clayman
Michelle R. Clayman is chief investment officer of New Amsterdam Partners, LLC, a firm she founded in 1986. New Amsterdam Partners offers large cap and mid cap investment strategies to institutional investors. Clayman sits on the Boards of the Society of Quantitative Analysts, and The Institute for Quantitative Research. She is a frequent commentator for CNBC, Bloomberg, and other financial media. A graduate of Stanford University's Graduate School of Business, Clayman is the first woman to receive the School's Excellence...
adding certainly companies problems selling
WorldCom (WCOME) selling off is no surprise, but it's certainly adding to the sentiment, and the drug companies are having problems as well,
due number
The run-up is probably due to a number of factors.
earnings feeling interest market might people rates tech worries
Earnings have been pretty astonishing, but the market hasn't always responded to that. I think people are feeling better about tech earnings in particular, but we still have worries about interest rates and what that might do to the recovery.
bad based business certain confidence deal decline economic few great leadership worrying
There's still a great deal of uncertainty. We've got a pretty worrying international situation. There is a decline in confidence in business leadership based on a few bad apples, and a certain complacence about the economic data.
amount bad concerned economic fairly far good market news solid today yesterday
Yesterday was a fairly solid day, today we had a fair amount of economic news -- and as far as the market is concerned it's good news and bad news.
interest lends low support today treasury yields
We're also still getting support from the low interest rates. While Treasury yields are not as low today as they've been, they are still historically at a substantial low, and that lends support to equities.
behind certainly rally relief
I think part of it is certainly a relief rally that the blackout is behind us.
begin bound companies few guess market narrow next range report september tends trading weeks
September tends to be the take-a-breather month, historically. I would guess the market over the next few weeks will be bound to a narrow trading range as companies begin to report earnings.
business confidence consumer expect increase margin market negative positive question start turn whether
Negative pre-announcements are outpacing positive ones by a three-to-one margin -- and that's very high, ... The big question is whether the market can look through that. We expect consumer confidence will increase and business confidence will start to turn up as well.
activity april clear companies data economic picking shown sign suspect willing woods
Economic data has shown us that we're not out of the woods just yet. We suspect that April too will be weak. ... What we need is a clear sign of economic activity picking up and companies willing to spend.
announce bush deal economic expected felt front gonna next package seeing stimulus stocks today tread tremendous until
Yesterday, it felt like the whole world was changing, but today we're seeing that we're still going to have to deal with all the same things as before. The Bush administration is expected to announce an economic stimulus package next week, and that may buoy the markets. But there's still tremendous uncertainty on the international front and until that's settled, stocks are probably gonna tread water.
bang home surprising
We started off with a bang yesterday, so it's not surprising that there would be a pullback. Plus, you had Home Depot's pre-announcement.
august light markets rally strong summer tends time
We are in the summer doldrums. Once we get into September, markets will probably rally because the fundamentals are strong but August tends to be a time of light trading.
ahead early gotten last performance stocks themselves tremendous year
A lot of the Nasdaq stocks had a tremendous performance last year and may have gotten ahead of themselves in the early part of this year.