The days of multiple expansions due to falling (interest) rates are largely behind us so when it comes to portfolio management, the old strategy of just 'buy the index' doesn't work anymore, ... What you're really coming down to is going back to a very old fashioned stock-by-stock approach to putting together a portfolio.
More Quotes from Kevin Caron:
I think we go nowhere for the next three weeks in terms of a real move in the markets. What's going to carry us is reduced uncertainty relative to the Fed, very good numbers on the economy and very good earnings as we wind up the year.Kevin Caron
A PE is meaningless by itself. A PE has to look at the price you're paying for earnings but you have to compare it relative to something. Companies with low PE's also tend to be the companies that have the lowest prospects for growth.
Kevin Caron
There's a growing realization that technology is where earnings growth is going to show up. Investment spending drives earnings, and it's going to technology,
Kevin Caron
Right now the market is digesting some very good gains it's had over the last year,
Kevin Caron
You had tremendous output by the chip companies in the second quarter. During the third quarter you had some concerns about capacity issues and shortages of certain components, ... We're getting a better sense that they're dealing with the issues and that perhaps the supply shortages won't be as difficult as people initially thought.
Kevin Caron
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