Ned Riley
Ned Riley
buy market people realize turning
You buy the market when the fundamentals are the weakest. I think the fundamentals are turning and I don't think people realize it yet.
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We're looking at a company that's going to grow, I think, at about 14 percent over the next several years with, I might add, a lot of predictability and I think a lot of visibility and a high level of confidence, ... So with Merck at 31 times earnings now and down about 20 percent from its high, I think we're getting into an opportunity where it's a lot better than trying to buy a cyclical that's selling at 27 times earnings and where the visibility is a lot more questionable.
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There is a willingness on the part of investors to buy premium names in anticipation of a recovery, but I really think there isn't a lot of conviction on the part of buyers or sellers.
buy greatest nobody time wants
This is the greatest time to buy these stocks: when nobody wants them.
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I think it's basically a case of no interest on either the buy or the sell side. People have already emotionally prepared for the long weekend, and they don't want to carry much ahead of it.
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I think it's wonderful -- the market doesn't want to go down. There are a lot of frustrated buyers out there that are waiting for a much larger correction, but they are being forced to chip away. ... With this market today, you just couldn't get the sellers out in force.
attracted buyers clearly continue damage economy extensive fact market people resilient result though
I think some buyers have actually been attracted to the fact that the market has been down so big (this week) even though there may be extensive damage as a result of Rita. Clearly people are concluding things will continue to go on and that the economy is resilient enough to take another blow,
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Investors are starting to exercise one of the golden rules of investing, ... And that's buying when the news is the bleakest.
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The inclination is toward selling the rally instead of buying on the dips.
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What's going to be key over the next week and determine how stocks perform is the interplay of pre-announcements versus brokerage upgrades. The corporate news will become more relevant than the economic news as we get closer to the period of quarterly reporting.
recovery road rocky
The rocky road to recovery has some potholes.
boxed companies forecasts lack past poor
These companies are boxed in by poor past forecasts and lack of visibility.
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These companies are actually growing, ... The whole group is growing somewhere between 10 and 13 percent relative earnings growth and the price-earnings ratios are about 13 to 14 times. It's one of the few groups out there that are actually selling at their growth rate in terms of price-earnings ratio. And, right now, it's strange -- people don't like the group. It isn't a hot group.
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The smartest thing a company can do is take anything that they think might be questionable and disclose it now,