So, I think when you're at that sort of multiple level, there's very little you can do to fulfill the expectation and an awful lot that can happen that will disappoint investors and give you significant downside risks, ... Having said that, a lot of stocks in the tech sector are trading at multiples that are within a coffee cup visit of their growth rate. And I think that might make a whole lot of sense.
More Quotes from Vince Farrell:
I think the market tends to rally in front of a Fed meeting, ... I think what is going to happen is no action (to raise rates), hawkish comments and the rally fades, because what you then have to turn your attention to is what will earnings be. If growth goes from 5.5 percent to 3.5 percent, earnings are going to slow.Vince Farrell
Everyone expects that Mr. Greenspan is going to eventually drop the word measured, so as to prepare the market for upping rate hikes at a faster pace in the future. That's going to be the key next week, whether he takes the word out or not.
Vince Farrell
What bothers me here is that we're dismissing the Southeast Asian crisis, and I don't think it can be dismissed. I think it's going to have an impact that will be deeper and longer lasting on the U.S. economy than we're giving it credit for.
Vince Farrell
We had a wonderful day yesterday, and our biggest position is CIT Group, which was taken out by Tyco International,
Vince Farrell
All the bad news is not out yet, and I don't know if we're going to have another round of estimate reductions because the economy seems to be falling away far faster than any of us would expect.
Vince Farrell
I think BellSouth looks very attractive. I think this is a terrific business with very good management, broad, diversified portfolio businesses, ... I think ATT Wireless looks very attractive at this 9 price. And you mention these names, people just cringe but that's probably a good sign.
Vince Farrell
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Prescription: A physician's guess at what will best prolong the situation with least harm to the patient.
Ambrose Bierce
Our scientific age demands that we provide definitions, measurements, and statistics in order to be taken seriously. Yet most of the important things in life cannot be precisely defined or measured. Can we define or measure love, beauty, friendship, or decency, for example?
Dennis Prager
Hope is but the dream of those who wake.
Matthew Prior