The stock reaction over the next few weeks is likely to be fairly neutral, with a lot of the damage already factored into prices.
More Quotes from 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
We are dependent on the kindness of rogues. Most developed countries are producing all they can and have to import oil. Underdeveloped countries with unstable political systems are the major sources of oil.
Stephen Leeb
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.
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
There are no real visible signs of economic weakness. It's a wonderful world except for oil.
Stephen Leeb
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