Everyone has talked about the industry making a comeback, but I never really thought it was down to begin with. There were certainly inventory issues. But, you had an absolutely blockbuster 2003 and in 2004 you saw reasonable growth - if that's bad, then we'll take it.
More Quotes from Stephen Leeb:
You would normally expect that lower energy prices would boost the stock market, but it hasn't, ... Lower energy prices and lower energy stocks suggest that there is a broader worry about economic growth.Stephen Leeb
The Fed is going to be the key driver for the stock market next week. But additionally, the driver will be the bond market reaction to the Fed and what that implies for interest rates going forward.
Stephen Leeb
It doesn't take a lot to get people worried. It just comes down to oil and interest rates.
Stephen Leeb
Goldman Sachs ... yesterday took it off their recommended list for reasons that made no sense whatsoever. This is as high a quality company as you can imagine. They did make some round-trip energy trades, there's no doubt, but they amounted to one quarter of one percent of their business. It had no effect on their profits. Energy trading is about 65 cents or about 30 percent of Duke's earnings. I would just buy Duke with my eyes closed at this point.
Stephen Leeb
First of all, (AOL) stock is down ... 50, 60 percent from its high, ... And it really hasn't changed its spots. I mean my grandchildren, if I'm lucky enough to have grandchildren, and their grandchildren are still going to know about Bugs Bunny and Time magazine. AOL is here for the count. (The stock) could end up earning a buck a share next year, maybe even a little bit more than that, 15-to-18 percent growth. Where do you get that kind of quality at that kind of price (That's) very, very difficult to find.
Stephen Leeb
The stock market is looking at a pretty benign economy, low interest rates and a 10-year note yield that is below 4 percent, all positives. But then there's the big negative -- oil.
Stephen Leeb
Readers Who Like This Quotation Also Like:
Based on Topics: Business & Commerce QuotesBased on Keywords: blockbuster
I never buy magazines, I never even buy books.
Marc Newson
I will never have a heart attack. I give them.
George Steinbrenner
The Lebanese people voted this time for change. So they are not satisfied with the actual situation. They want to see a new government. They want to see a new vision.
Rafik Hariri