Robert Stovall
Robert Stovall
acted beginning cut early fed kick month opportunity several shots themselves year
(The cut is) the beginning of several shots in the arm. I think the Fed acted early in the new year so to give themselves the opportunity in the end of the month to cut again, if things don't kick in as they like.
incorrect markets moves past people statement statements
When (Cohen) makes a statement it moves markets sometimes. People who have made statements in the past and have been incorrect don't have much impact.
bank benefit bring coming companies financial focus major money partial political social sorts
We are coming up to the political conventions, and the Republicans, I'm sure, will bring up the semi or partial privatization of Social Security. And if that comes to pass, even in concept, long before it actually happens, it is going to focus on companies that would benefit from this: money managers, bank custodians, all sorts of the major financial companies.
higher looking move shock since sustained trend war
Looking at every shock we have sustained since World War I, the trend has been to fall, then rally, and then move on to higher highs.
again fed last october raise rates
I think the Fed will raise rates again on October 5 and make some more jawboning attempts. It could be the last one for the year.
shoe somewhat white
When I was a rookie, the NYSE was somewhat of a white shoe club.
bottom eternal hope springs
We're a long way from the bottom and I think hope springs eternal for equities.
bond built largely prices problems raise stock sure worse worst
We're not sure what the Fed's going to do. And if they do their worst and raise rates, I think it's largely built into the bond and stock prices right now. So, I think the worse of the near-term problems are just about accomplished.
assets averages flows guess high last market money primarily quarters sector seems tech though
The tech sector is where the money seems to want to flow. You can just look at last week's action, when all the averages were up, the money flows into technology, primarily in telecommunications. And even though the valuations have been high all of these quarters and still are, I guess if you want to do well in the market you've got to have some of your assets in technology, definitely.
coke
Coke is down substantially, but I think that is all right.
audit businesses decided focus irs resources small
The IRS has decided to focus most of its audit resources on small businesses and the self-employed.
behind dragging follow investors marching ordinary rear soldiers tend
The institutional investors tend to play follow the leader. And right now they're all marching behind the big generals, like Boeing, Exxon, Merck ... and so forth. And the ordinary soldiers are way in the rear ranks, dragging along.
drifting enthusiasm hard stimulate
It's very hard to stimulate enthusiasm. We keep drifting downward.
enthusiasm eventually investors tells turn
It tells us the enthusiasm of investors will eventually turn this around.