The good news in this correction was that there was a reason for it to correct,
More Quotes from Vince Farrell:
Hughes and Delphi add up to over 40 a share in value then you're buying the auto company for 80 minus the 40, or about 40 bucks.Vince Farrell
I think what really triggered the rally was the surprise cut by (Federal Reserve Chairman Alan) Greenspan in interest rates. But earnings have been good enough to continue the rally. Now the concern going forward is Can earnings grow in 1999.
Vince Farrell
You can't guess. The decade of the '80s (for example) was a decade of great wealth creation and it averaged 17 percent a year, ... But if you missed 40 of the best days, your return was around 3 percent.
Vince Farrell
I think the Fed is done hiking, but this economy has shown great resilience, so it's far too early to call for a decline in interest rates. I think the Fed's out of the picture for now,
Vince Farrell
I don't know if you could say definitively we're in a recession yet, ... I think the markets have been hoping for a three-quarter-point cut. And I believe this is going to take the wind out of a rally.
Vince Farrell
The cycle of capital spending is behind them. They spent a whole lot of money the past couple of years buying or refitting their locomotives, which is a very expensive proposition, ... So you're going to find free cash flow in these companies, rising earning because the economy does well and they're trading at only about 12 times earnings.
Vince Farrell
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Heaven knows, I've exposed myself in my novels through the use of fantasy and imagination... now my new book is about what really happened to me... not my heroines.
Judith Krantz