Brett Gallagher
Brett Gallagher
best bottom companies developed ends giving market pick sector stock
Every market and every sector has different things that make it tick. So when we're looking, for example, at developed markets, we are bottom up stock pickers. We'll pick the best companies and see what kind of allocation that ends up giving us.
durable economic extent good poor vacuum
To an extent we're in a vacuum where even poor economic statistics, such as the durable good orders, can't dissuade investors.
backup guys lost
We lost all of our power. We're on backup power. Our guys aren't trading.
companies currency factor policy
Some companies have a policy of currency hedging, and you have to factor that into the picture.
appearance companies earnings easier far less looked positive profit
One positive is that S&P earnings so far have looked better than the year-earlier period. Granted, comparisons are a lot easier as companies take less write-offs, but it's still something that's encouraging. I don't think we're going to have a big profit recovery, but we'll have the appearance of improvement.
ability concern corporate costs create deals driven economy general greater help meet next reduce seem
There's a general concern about the economy and corporate profits. The deals seem to be driven by the ability to reduce costs or create greater synergies of scale, so it's not something that's going to help them meet next quarter's earnings.
ability concern corporate costs create deals driven economy general greater help meet next reduce seem
There's a general concern about the economy and corporate profits, ... The deals seem to be driven by the ability to reduce costs or create greater synergies of scale, so it's not something that's going to help them meet next quarter's earnings.
both conviction investors keeps pushed recovery tested view
There's nothing for investors to latch on to with conviction. We're being tested on both sides. With no clear-cut view that things are getting better, the (economic) recovery keeps getting pushed out.
positive tax
Eliminating the dividend tax is a psychological positive for the market, ... but at the end of the day, it's no big deal.
giving names negative quality shaking
These are all quality names in their sectors, all giving negative guidance, and I think that's shaking investors.
investors run step
After a big up day like you had yesterday, you have to have some digestion. Once things run up by a big amount, then investors have to step back.
confidence corporate earnings heal market street time wall
This is a market that has no confidence. Corporate confidence is shot, confidence in earnings is shot, and confidence in Wall Street analysts is gone. Only time is going to heal that.
bit energy percent run sector sensitive september
A lot of the other cyclically sensitive sectors have already run 50-to-100 percent from the September lows. Energy is one sector that's lagged a little bit there and we think there is still some value,
convinced inspire until
There was nothing that was said to inspire confidence. Until we see some end-market pickup, I'm not going to be convinced the end is near.