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
actual calculate driving investors market paying together year
What's driving the market is speculation. You put together actual year earnings, you also calculate price-to-earnings multiples right now and what investors are paying for is really out of whack. It's too high.
fourth internet quarter stuff tech worked year
The stuff that worked in the fourth quarter and the first part of this year isn't working any more, like Internet stocks, large-cap tech stocks, and other large-cap names.
inclined negative positive since situation year
That's the situation today, ... Since that's the case, I'd be more inclined to think this will be a negative year than a positive year.
canada coming might run southern time warming year
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.
caps early foolish jump large until wait year
It's foolish to jump the gun. The thing to do is wait until you actually see large caps outperform, because if you don't wait you can be a year early .
impressive last meet ongoing percent production ramp seen strong truth year
The truth is with Harley-Davidson, like a lot of other companies, like Wal-Mart and Target, we've seen ongoing, strong demand, ... Harley-Davidson's production has had to ramp up 15 percent per year for the last 10 years. That's pretty impressive and it's all been done to meet that ongoing demand.
catch closer darn earnings market needs stayed until wait year
The market needs to let earnings catch up -- wait until we get closer to the year 2000, when we can feel comfortable that the market is not overvalued. If the market stayed the same while earnings rose, then price-earnings ratios would be so darn high.
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).