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
consumer continue debt higher interest levels rates second spending term third
Long term interest rates are higher now than they were in the second and third quarters, and debt levels are higher too. Yes, consumer spending will continue to expand, but it will be slower.
information start third week
(This) week is going to give us a lot of important information about the start of the third quarter,
focus forget looks quarter third
It's encouraging, but let's not forget that the focus is on the third quarter and beyond, and that looks a little gloomier,
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,
barn edge higher
I think we're going to edge our way higher but I don't think it's going to be a barn burning.
buying managers money number seen slump technology
I think we've seen technology take a tumble a number of times and come right back. Most professional money managers look at a technology slump as a buying opportunity.
among appears cut fed investors knows move reason situation taking thinking time worries
I think what the half-point cut showed was that the Fed for the first time appears to be taking the situation very seriously. I think investors are also still mulling the move and thinking what is it the Fed knows that they don't know. Could it be worries about a double-dip and deflation? It's this uncertainty, among other factors, that's the reason why we're down today.
cheap healthy level performance skepticism solid stocks
It has been a solid performance, but there's still a healthy level of skepticism because stocks aren't cheap right now.
market momentum remains starting
I think the momentum of the market remains positive, but it's starting to slow.
bond europe happens market means question stock tragedy
Just as the bond market and Europe has priced in what this tragedy means ... so too will the stock market. The real question is what happens at 10:30 (a.m. ET).
basis cap definitely investors large market mid quite relative rewarding small type
Large is the place to be. The market has been rewarding investors in large cap, and rewarding investors on a relative basis in mid cap, but quite frankly, it is an on-again/off-again type of thing with the small cap, and the small cap is not a place to go. The market is not signaling to me that you should play it on the small cap side, mid cap is fine, large cap is definitely the place to be.
attracts far level reach
We got down too far too fast. You reach a level that attracts buyers.
earnings economy interest level outlook rates rising simple step surface
On the surface level it's a real simple story. Interest rates are rising and the outlook for the economy and earnings is darkening every step of the way.
companies consistent earnings price
Really they're companies with consistent price performance, ... In other words, it's better than the S&P and consistent earnings performance.