Phil Dow
Phil Dow
companies people rest sector software spending tech thinking waiting
These software warnings have got people thinking that companies aren't spending their wads of cash. There may have been some unrealistic expectations, so I'm waiting to see how the rest of the tech sector does.
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.
cut spend taxes wants
wants to cut taxes and spend the surplus.
amazing capital profits turn
It's amazing to see intellectual capital turn into profits so quickly.
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.
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.
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.
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.
activity investors negative news traders trading
The trading activity has a negative bias. The news has been negative and it's frustrating for investors and traders alike.
positive
This could be one of the more important positive tailwinds for the market,
argue hard shock
Once we get over the shock of the headline, I find it hard to argue that this is a negative.
companies eventually expect immediate mirrors people regain smoke
You're going to see a lot of companies voluntarily take the smoke and mirrors out of their business, ... We shouldn't expect to see an immediate recovery, but eventually people will regain confidence.
bad dangerous evidence looking meaning might news prize quite time traders
This is the first evidence that things might be better than they thought, and I think traders don't quite know what to do. I think we've been conditioned to bad news -- it's like a beaten-up prize fighter. I think it's a dangerous time to look for more of the same, meaning looking for more negative.
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.