Ed Yardeni
Ed Yardeni
beginning earnings recover
Earnings will recover and valuation multiples, which got crushed, will get back to where they were at the beginning of the year,
depressing ease economic fed federal folks funds high next plenty raise rate room seriously short sure time
I think the folks at the Fed would like to raise the federal funds rate as high as they can short of seriously depressing economic growth. They want to make sure they have plenty of room to ease next time they have to do so.
bizarre concerned gets goes market mood patch people soft worse
The market goes through these bizarre mood swings. All of a sudden, people are concerned that we're in a soft patch and that it may get worse before it gets better.
below early earnings market predicted rise risen share time
Early in 2004, I predicted that energy's share of the S&P 500's market capitalization would rise from just below 6% at that time to 15% before the end of the decade. In January, its market-cap share was up to 12.1%, while its share of earnings had risen to 9.1% from 6.0% in early 2004.
blame costs depress earnings energy eventually fear higher investors performance price problem suspects usual
After rounding up all the usual bearish suspects to blame for the market's disappointing performance this year, I've narrowed the problem to the price of oil. Investors fear that higher energy costs must eventually depress earnings growth.
adds good surprises
The surprises should be on the upside. It all adds up to very good fourth-quarter numbers.
earnings grow inflation interest rates remain
Earnings are still going to grow as interest rates and inflation remain low.
core increase inflation means percent rate seen stayed tremendous
For two years, we've seen this tremendous increase in prices, yet the core inflation rate has stayed at 2.3 percent or less, and the only explanation for that is globalization means inflation is contained.
disaster global local
If Y2K is a disaster it will be a global one, not a local one,
earth life mean planet severe year
There could be a severe recession. That doesn't mean there won't be life on the planet Earth in the year 2000, 2001 and beyond.
assets commodity converted extent financial funds hard
What is really new in the commodity world is the extent to which hard commodities have been converted to financial assets through exchange-traded funds and hedge funds.
areas choke fact government points produce year
the government is one of the choke points in the year 2000 problem. It's one of the areas where we could have disruptions that could in fact produce a recession.
bank central conclude income investors raise rates tends time
When fixed-income investors conclude that the central bank isn't going to raise rates any time soon, ... there tends to be a convergence of rates.