William Hummer
William Hummer
easing fed fixing flu global help major market prevent problems recession require sees shot temporary
We see the Fed easing as a flu shot that will help prevent recession in 1999, but fixing the global problems that underlie the markets' malaise will require major surgery. So basically, I think the market sees through this as a temporary boost, but there are fundamental problems that aren't yet resolved.
continues earnings economy fed happen reflected second
If the Fed is right and the economy continues to expand, we'll see that happen and see it reflected in the earnings for the second half.
appeal energy hold looking managers money previous sector stocks three
I think energy stocks will flatten or worse, ... I'm not looking at the sector to tank, but I don't think it will hold the same appeal for money managers as it has in the previous three quarters.
exposure higher interest minimum stocks
Stocks that have minimum exposure to higher interest rates.
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There's an enormous supply of funds awaiting employment in equities.
anyway anywhere gains good inclined realize time
It's a good time for those who are inclined to take gains to realize them now if they're going to do it anyway -- I don't think the market's going anywhere for a while.
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This is a disconnect; job growth is psychologically and practically the core of what's happening in the economy. In sharp contrast, the oil price is volatile. It's certainly not meaningless, but it's subject to so many variations that it doesn't have the same importance.
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There's no end in sight as the Asian crisis will go on for years and this is having a major effect, ... It will trim earnings probably more substantially than many economists expected.
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The strength of the economy since the beginning of the year has been an embarrassment to forecasters. There is much more momentum than most people recognized.
earnings fairly quarter received third
The third quarter earnings have been fairly well received and I think there will be anticipation that fourth-quarter earnings could be better than expected,
sector services showing starting wages
The services sector is showing some inflationary pressure, and wages are starting to climb.
bringing coming corporate earnings estimates growth interest low market rates sustained until year
That's what's probably bringing the market around. Low interest rates and sustained growth will bring estimates that corporate earnings over the coming year could very well be up 8 or 9 percent. That will sustain the market for the coming months, until year-end.
entering period stock
We're entering a seasonal period now, pre-Thanksgiving, pre-December holidays, where we often see a stock advance,
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There are a tremendous amount of investors who are very happy with the floor system, ... That is not to say that over years advances in technology and efficiency won't change that. My perception is that the change will be glacial, not abrupt.