Merrill Lynch was down about 0 at one point. I'm sitting here with my hard hat on, watching things fall.. This is not a market where you can do anything except pick up a few stocks that you think are going to do all right long-term.
Bill Fries
In order to pay it's got to be a pretty big winner. But if it's a big hit from a financial standpoint, then next year you've got a very tough comparison.
order comparison winner big pretty
fall market hard things
In the last year or so, investors have been oblivious to risk.
risk
I'm not really focused quarter-to-quarter. I'm really focused on the secular trends. And I'm encouraged that the AOL subscription business looks like it's holding together, and they're keeping their market share.
business market share trends secular
It's not a very good story at the moment, but that's part of the art of buying things that are out of favor. We see five or six drugs in development that could be billion-dollar products down the road.
products art moment drugs good story road development favor things part
The December meeting and their plan is pretty important. If they don't show the requisite amount of creativity, the market is not going to treat them kindly.
meeting creativity plan market important pretty
Cost cutting anyone can do. That's not going to save AOL.
save cutting
It certainly is not a blessing for managed-care companies.
blessing
It would seem that maybe it's going to be more difficult for the generic providers to, in a general way, overcome some of the patents.
overcome difficult
It's a fair price only if you believe Citigroup is an average company. I think it's an above-average company. That's why they're everywhere.
fair company price
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