This is an opportunity, ... You can find some health care stocks with price- earnings ratios, ironically, more cheap than they are in the cyclical area. The health care group of stocks that I like sell about 28 times earnings and have growth rates of 14 percent.
More Quotes from Ned Riley:
The smartest thing a company can do is take anything that they think might be questionable and disclose it now,Ned Riley
This would be a short-term stimulus to personal computer manufacturers, semiconductors and the whole gamut of technology companies.
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Today's sharp selloff shows that there were more bears on vacation in August than we thought, and they've come back nasty.
Ned Riley
EBay was given no mercy after hours. Followers were very dismayed by the guidance and that clearly was no help for the rest of technology.
Ned Riley
We're looking at a company that's going to grow, I think, at about 14 percent over the next several years with, I might add, a lot of predictability and I think a lot of visibility and a high level of confidence, ... So with Merck at 31 times earnings now and down about 20 percent from its high, I think we're getting into an opportunity where it's a lot better than trying to buy a cyclical that's selling at 27 times earnings and where the visibility is a lot more questionable.
Ned Riley
Companies have lowered expectations to almost zero, ... We could have stocks rally on the notion that the worst news is behind us.
Ned Riley
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