Hugh Johnson
Hugh Johnson
Hugh Johnson OBEis a British author and expert on wine. He is considered the world's best-selling wine writer. His 1961 tasting of a bottle of 1540 Steinwein from the German vineyard Würzburger Stein is considered to potentially be one of the oldest wines to have ever been tasted...
ProfessionNon-Fiction Author
Date of Birth10 March 1939
earnings enjoy estimates fourth good picture primarily quarters reducing third tougher year
The earnings picture is really good now, but, you know, enjoy it while it lasts. Third and fourth quarters of this year are going to be much, much tougher earnings seasons, primarily because analysts are not reducing those estimates and the comparisons are going to be very, very tough,
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I think everybody knew this before, but this kind of takes it from the back page and moves it to the front page, ... He certainly carries a lot of weight in the market.
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Hardware, software and semiconductors are the three top-performing groups right now, and there has been a decline in oil prices. These things are pushing the markets up.
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It's pretty clear that companies have made money and their cash positions are high and this should help the market stage an advance in November and December.
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It's very hard to attribute it to an event or release because there is none. I certainly wouldn't attach any significance to it. The professional money managers aren't doing much. They want to take a clear look at third-quarter earnings.
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The Goldman Sachs news seemed to re-energize the bull market.
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You know, we had four great years because we had declining inflation and interest rates. There's been a sea change. We now have inflation and interest rates actually heading higher. That makes things entirely different - you can't get away with high-priced earnings or overvalued stocks and so we're going through this adjustment to a new reality.
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We need to watch the Japanese parliament and see if they do anything about their banking crisis.
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We'll have some bewildering rises and some bewildering, if not shocking, declines.
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What Oracle did is it demoralized the rest of the technology sector.
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When all of the markets around the globe simultaneously go down, that's the message. That's what you have to worry about.
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We got down too far too fast. You reach a level that attracts buyers.
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Yes, it creates volatility around the world when they pounce. As a small investor, you should keep an eye on hedge fund activity?It's going to be a part of our financial landscape. You're going to have to live with that.
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You have to be careful about prejudging this - I've seen so many investors burned at the stake thinking things like 'Value is about to come back,' ... Let the market tell you what to do. Don't tell the market what to do.