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
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There are no real hiding places, ... But I would tell investors they shouldn't get too scared by what's happening. Don't forget that 70 percent of the time, stocks are going up. I don't know where the market is going in 30 days, but I know where it's going in 30 years.
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We had a very solid move up in stocks in the first quarter. There's a good chance that what the markets will be left with is a great deal of uncertainty or even the belief that more rate increases are coming.
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What we're seeing from Lehman is that market conditions improved through the summer, and that conditions are likely to continue improving. That's showing up in the earnings and in the detail of their reports.
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ultimately extremely good news for the health of the market.
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When the markets struggled for a technical bounce in the morning, that was investors sending a message that we're either heading toward an economic recession or toward a profits recession.
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We might get blindsided by some (hedge fund) announcement that nobody's anticipating, ... You worry about another big bolt out of the blue.
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When you say the stock market is overvalued, you imply that the stock market is going down. But there is a touch of lunacy in every bull market -- stocks can become even more overvalued. A rational investment policy in an irrational world is suicide.