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
burned careful investors market seen stake thinking
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.
care defensive fairly frankly good health investors last lifted month move performed quite recently relative somewhat stocks
You had a pretty good move in biotech this year, and biotech really has quite frankly lifted the health care and the drug stocks recently because investors have become somewhat defensive -- say in the last month or so -- and have also, on a relative basis, performed fairly well.
rises
We'll have some bewildering rises and some bewildering, if not shocking, declines.
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Even though it's a bad time, it's a good time - if you have a taxable account, you clearly want to harvest some of the gains, and offset it with some sales of losses,
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The reason the (stock) market is struggling is that concerns about the economy and earnings are deepening, ... We don't see anything that says the current profit recession is going to end.
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The good news was good enough to more than offset the worries about wages and Federal Reserve policy. There is an emotional component to the market today. Some speculative spirits are starting to stir.
earnings economy move questions raises serious time toward
Every time (crude prices) move toward $50, it raises serious questions about the economy and earnings in 2005.
companies good market sector
Every market sector has a lot of good companies in it.
became bull companies extent hit market next numbers optimistic week
As the bull market progressed, analysts became more optimistic about next year's earnings. Now, it's the extent to which companies will hit their numbers for 2004 that will make next week so important for the market.
bond business needs stock takes transition
As the transition from the bond business to the stock business takes place, the stock business needs to recover.
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To some extent everybody is a little exhausted. In the absence of big news we'll see a quieter day. It feels like we were hit by a tidal wave over the past three or four days and today is like the aftermath, picking up the pieces.
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The reason for the (technology) decline is the combination of the Cisco earnings and the comments from CEO John Chambers. He basically said what Intel said recently: that customers are getting very cautious and that spending on technology is slowing.
bull created interest rates recent rise
The recent rise in interest rates has created some uncertainty about the bull market's longevity.
globe markets worry
When all of the markets around the globe simultaneously go down, that's the message. That's what you have to worry about.