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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Every time (crude prices) move toward $50, it raises serious questions about the economy and earnings in 2005.
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You won't know for a couple of weeks. History says they (the Fed) need to cut rates more than one time but I am encouraged.
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It is encouraging that the market has been able to hold together. The overall message is that the events in Southeast Asia will in time have an impact on the U.S. economy, but not a major impact in 1998. And that is really good news.
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It confirms that as we started the fourth quarter the economy continues to slow, ... At the same time that the economy is slowing, there is ongoing tightness in the labor markets and ongoing upward pressure on wages.
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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.
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It's coming from southern Canada. We're in that time of year where even Canada is warming up now. We might make a run at 70 by the end of the week.
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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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I like the large-cap technology names. Over a three- to five-year period they are going to be real winners.
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Speaking of financial markets as a whole --stocks, bonds and the dollar -- 'volatile' is not strong enough a word to describe them.
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Like any indicator, whether it's the Super Bowl or anything else, it's sometimes right and sometimes wrong. It's just not very rational to conclude that if January is a bad month, the market will have a bad year.
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Everything is connected but it is anyone's guess how long the phenomena will continue.
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The fundamental premise in this business is you cannot be stuck in this business. You can buy stocks for the long haul, but if the market breaks down, you're going to suffer. You're going to pay for it.
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It has been a solid performance, but there's still a healthy level of skepticism because stocks aren't cheap right now.
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I think the M&A activity is certainly the headline, with Oracle-PeopleSoft and a hangover of Sprint-Nextel,