Vince Farrell
Vince Farrell
bond expect fed market might policy rally tilt towards
I think today, at worst, the Fed might tilt towards a tightening. But if they don't, if they keep policy unchanged, I would expect you would see . . . the bond market should rally significantly too.
companies expected sell tech
The tech companies are going to have to be a lot better than expected to keep this up. I say sell this tech rally.
difficult expect ship taken task turn
This is a very difficult task they're taken on, and I don't think you can expect them to turn the ship around too quickly.
above expect growth rates
The growth rates are still going to be significantly above what we expect the market's growth to be,
benign euphoric greenspan market thinks yesterday
We had a euphoric day yesterday because the market thinks Mr. Greenspan is going to be benign today,
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.
fed financial interest months moves rates stocks tend work
Financial stocks tend to do well when interest rates are being lowered. Interest rate moves by the Fed take about 12 months before they work their way through the economy.
couple gains hear next nobody wants
But nobody wants to hear about gains over the next couple of years,
build correlate goes growth guy match mix period style value wealth worst
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.
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.
lower might
We might get to the lower 8,000's before we get through with this.
fully stocks ways
I think we have a ways to go on this. Stocks are fully valued.
ahead cuts generally hold move rate stocks until wait
I think we have to wait until 2002 for the Fed's rate cuts to take hold and stocks generally move ahead of the economy,
chairman concern continue cut earnings forward good greenspan grow interest rally reserve surprise
I think what really triggered the rally was the surprise cut by (Federal Reserve Chairman Alan) Greenspan in interest rates. But earnings have been good enough to continue the rally. Now the concern going forward is: Can earnings grow in 1999.