Investors, ... ... say that when interest rates go up, avoid the financial stocks. Last year, interest rates went up a lot, both the short-end and the long-end. But in fact, financial companies reported very good earnings. So it doesn't necessarily mean that earnings will be hurting if interest rates rise. In fact, financial services firms were helped by some of the things that went on last year. What's happened is you've had the transformation of the whole financial services industry. Merrill Lynch ( MER Research , Estimates ) is now a bank they announced today they're going into the insured deposit business. They're an Internet company as well. They're no longer just an interest-rate sensitive company.
More Quotes from Michael Holland:
I think that we had an incredible performance yesterday (Monday). I think today (Tuesday) is just giving up some of what we put together over the last two days.Michael Holland
He has been a financial institution. No one can replace him. He brought financial journalism to a new level with his trademarks of honesty, humor and fairness. He always looked at both sides of the issues. His only bias was toward optimism.
Michael Holland
We loaned the money to the church, not to him.
Michael Holland
Another quarter-point proponent is Michael Holland, head of a money-management company bearing his name. Alan Greenspan's history is being a gradualist, ... Having done five quarter-point increases in less than a year, another quarter-point would fulfill one of his objectives of not unsettling the markets. That's why I believe there will be a quarter-point hike in May, possibly followed by another in June.
Michael Holland
People are saying at some point the recession will be over and earnings will come, and at some point you have to own stocks.
Michael Holland
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Based on Topics: Business & Commerce Quotes, Change Quotes, Facts Quotes, Finance Quotes, Internet QuotesBased on Keywords: insured, interest-rate, long-end, mer, merrill, short-end
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