Phil Dow
Phil Dow
buy favor hold kinds names periods
Try to buy those kinds of names when they're out of favor and hold on to them for long periods of time,
ahead believes expand holding market news seems volume
I think we are in a recovery, but no one ever believes it ahead of time. To me, it's pretty encouraging to see volume expand when the market is going up. And while the news is not improving, the market seems to be holding up.
asset financial growth guess market solutions stocks styles trying value
This year, the market is trying to tell you to be selective. If you look at the stocks that have moved, it really has not been just 30 big stocks; it's been all asset classes, all styles -- value and growth have delivered. The ones that are really getting fundamental financial guide, post-traction are those that are delivering. So my guess is selectivity is the key, and I think you've got to be in kind of best-of-breed solutions right now.
cautious community economy growth history negatively people percent recent surprised trading translated viewed wall year
This year I was a little surprised (at) how negatively people viewed the economy and that's translated into a very cautious trading community on Wall Street, ... I think we did pretty well. We had a 4.4 percent growth in GDP. That's better than in recent history and better than some of our trading partners.
bit doubt economic longer market mosaic pieces seeing short stock support sustained term together
Bit by bit we are seeing the pieces of the economic mosaic come together that could support a sustained stock market rally, at least in the short term ... But in the longer term, there are still significant questions, no doubt about it.
clearly great leader shot
We think Nokia is clearly going to be the leader in handsets, ... And we think they've got a great shot at infrastructure as well.
balance company equipment financial firm great throw waters
We like Waters Corporation, ... It's a company that specializes in equipment for biotech research, great balance sheet, firm fundamentals. In financials, we would throw in Wells Fargo, TCF Financial Corporation, and Citigroup.
advantage associates attractive coming computer estimates forward great growing multiple obvious percent research software third trades trying value
We're trying to take advantage of value where we can see it, and there are some obvious places. Computer Associates ( CA : Research , Estimates ) is the third-largest independent software company. It trades at a P/E multiple on forward earnings. It's about a third of Microsoft's today. It's growing at about 16, 17 percent, trades for about 13 times earnings. We think it's a very attractive asset. We think it's a great one and could go up as much as 30, 40 percent in the coming year.
balance business capital cash companies ensure levels record sheets spending stay surprise
One surprise in 2005 will be that business capital spending will be back in a big way especially as cash is at record levels on balance sheets and as companies ensure that they stay competitive.
buying expanding transition turned yesterday
My sense is that we may be at a really important transition point. Yesterday was a pretty important day. (The market) turned around on expanding volume, which indicated some real buying going on.
beginning critical early good guess invested january money positive year
My sense is that January is going to be critical this year and I think you can see a good beginning to the month. I think you can see a positive January and my guess is that's how you're going to see money invested -- early and strongly.
anticipate corporate earnings economic growth next people time year
Next year people will still be cautious. At the same time I anticipate corporate earnings and economic growth will come in better than expected,
gradually historical moves series shock terrible
If we have a series of big moves up, that would be a shock to the system, ... but, considering where are from a historical perspective, they could go up more gradually and not be a terrible headwind for the market.
guess value
My guess is that value will have its day,