I think it's going to be a difficult year, ... We're undergoing a change. I think the markets will broaden and some tech stocks will suffer. In my opinion, they've reached a point of absurd valuation. These stocks are going to give up the ghost with money going into other stocks.
More Quotes from Vince Farrell:
I think there's a whole lot of tech stocks that make sense. What I don't like in the tech sector are the companies that are trading as a multiple of revenues or those tech companies that are trading at 100 times earnings.Vince Farrell
With more and more people going online, you're going to need more power, ... That means Intel's going to sell more chips. I think you want to own Intel for the next couple of years because it is the engine of the Internet.
Vince Farrell
But the chances are unlikely at this point, say analysts. People will wonder is going to cut rates before the next meeting, ... I think the Fed will not cut before the next scheduled meeting.
Vince Farrell
It's starting to feed on itself, which is the anxiety which marks the bottom.
Vince Farrell
What bothers me here is that we're dismissing the Southeast Asian crisis, and I don't think it can be dismissed. I think it's going to have an impact that will be deeper and longer lasting on the U.S. economy than we're giving it credit for.
Vince Farrell
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.
Vince Farrell
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