The confidence in U.S. Equities is just not there.
Ed Keon
When things seem very risky it often represents opportunity.
opportunity things
Analysts' forecasts for earnings I think are still a little too high. They are expecting 8-percent earnings growth. I don't think we're going to do that. For next year, they're expecting 14-percent earnings growth. I think we'll be lucky to do half of that.
growth lucky
I think we expect earnings in general to be better than expected. Two or three companies will beat expectations for every one that falls short. As a group, earnings will probably be 1, 2, or 3 percent above what analysts are expecting.
expectations beat short
It is certainly a risk if you have new money in the market now with these kind of price- earnings ratios,.. If you're queasy about drops and ups and downs this might be a time to be a little cautious.
money time kind risk market
[Market strategists said a variety of earnings disappointments, along with early anxiety in the bond market, bruised the bull market and threatened to send stocks even lower.] It is certainly a risk if you have new money in the market now with these kind of price-earnings ratios,.. This might be a time to be a little cautious.
money time kind risk anxiety market variety early bond
We feel that numbers are not as bad as people think as a few high profile names have reported below expectations. Numbers so far have come down from where they were but have still come in about 5% ahead of analysts' forecasts.. We believe that growth rates are still pretty robust at about six percent growth for the year.
numbers growth people names feel bad expectations pretty
[Two thoughts. First, savvy investors have long ignored the cost of goodwill amortization in valuing a company (many prefer cash now).] It's just cosmetics,.. If companies soar in value for the sole reason of this accounting change, I would take advantage of it and sell those stocks.
change reason thoughts company cash cosmetics
I have to live with the facts as they are, rather than as I wish they would be or think they might be in the future.
live future facts
confidence
The referral of Iran to the U.N. Security Council suggests that the crisis might have legs as the world tries to stop the Iranians from developing nuclear weapons. It does not matter what happens in Iran, it is the uncertainty about Iran that tends to be very bad for markets.
uncertainty security world bad weapons crisis stop matter iran legs
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