Vince Farrell
Vince Farrell
companies couple economy energy fairly financial key last quite reasonably side somewhat stocks weeks
On the other side of the ledger, most of the companies in the old economy are fairly reasonably priced. So, a couple of weeks ago we started to see a shift. First, the energy stocks did somewhat better. Then, the pharmaceutical stocks had quite a run. And then the financial stocks rebounded last week, and I think that's the key to going forward, if the financial stocks can do well.
building economy terrible
We've been building to this for some time. The economy is in a slowdown but it's not in a terrible situation.
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What the stock market is telling you is that the economy and corporate profits are going to recover sooner than thought.
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I think the Fed is done hiking, but this economy has shown great resilience, so it's far too early to call for a decline in interest rates. I think the Fed's out of the picture for now.
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I like financial stocks, but not banks, ... As a rule you have to be very cautious, because if the economy is softening, you don't know the extent of the loan loss reserves they're going to have to ante up for loans that go bad in a soft economy.
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The economy looks good. Greenspan told us that.
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All the bad news is not out yet, and I don't know if we're going to have another round of estimate reductions because the economy seems to be falling away far faster than any of us would expect.
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Production is declining at about a 4 percent annual rate right now while consumption is increasing between 2 and 4 percent. So inevitably the price is going to have to go up.
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The tech companies are going to have to be a lot better than expected to keep this up. I say sell this tech rally.
found relief reports
We had a little relief rally. We got through the quarterly reports and found out we were still alive.
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I was really encouraged by yesterday's move. I don't know about the average - the average is in the process of bottoming - but it may well be that the average can kind of bottom out, individual stocks are going to go off on their own, up or down.
average bottom encouraged individual process stocks
I was really encouraged by yesterday's move, ... I don't know about the average - the average is in the process of bottoming - but it may well be that the average can kind of bottom out, individual stocks are going to go off on their own, up or down.
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Most of the exploratory dollars are going to go to the great big prospects. And I think this will really impact the oil service companies' ability to continue their profit growth.
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Mix and match the risk. If you do it well, your growth guy is not going to correlate with your value guy -- but it will keep you in the game, ... If you're all in one style and it goes bad, that's the worst thing you can do if you want to build wealth over a long period of time.