Michael Carty
Michael Carty
Michael Cartywas an Irish Fianna Fáil politician. Born in Loughrea, County Galway to Lawrence and Josephine Carty, he was the eldest of seven children. A schoolteacher by profession, he was first elected to Dáil Éireann as a Fianna Fáil TD for the Galway South constituency at the 1957 general election. From 1961 to 1969, he represented the Galway East constituency, and from 1969 to 1973 the Clare–Galway South constituency. He retired from politics in 1973...
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You've got two things: a horrible retail environment ... and oil prices are up to $32 a barrel. When energy prices rise they pervade all aspects of the economy and costs go up. ... The big thing overhanging the market is what we are going to do with Iraq.
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The most prudent position for any investor right now, ... would be to be buying on the dips, particularly those attractive technology stocks that are selling at something of a discount.
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The most prudent position for any investor right now,
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As far as Harley-Davidson goes, it makes a great product. It's got one of the best bikes in the world, ... It's, I think, leading motorcycle sales. It does restaurants. It does clothing. It's diversified and it's a winner.
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The weakness today doesn't concern me, ... There's a little profit taking after the five up sessions and there's some jitters over the dollar's decline, but I think it's pretty clear that the earnings are going to be quite good.
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They go into enterprise technology where they allow companies to access all kinds of systems in a secure mode. The company continually introduces products, ... We just jumped in, even at these levels, just about a week ago. We'll continue to buy this stock for many of our accounts. Our analysts are very high on it. We expect it to outperform the market over the next six-to-12 months.
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There are some rumors that although the market is open, a lot of people have decided to take long holidays, and so I think you'll see a drop in volume next week.
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There are some negatives out there, but manufacturing and factory orders seem to be coming back and there will be a lot of rebuilding down in the Southeast. I think we've basically been too negative.
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There are a lot of good things happening right now, but the market continues to focus on Iraq, interest rates, the presidential election, and particularly right now, the high-profile earnings misses.
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Yesterday (Monday) was a technical rally. There's still a lot of uncertainty about a potential recession and about what's going to happen on the diplomatic front.
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We like auto parts and accessories; we even like Pep Boys. They have a return on equity similar to AutoZone, which has a return on equity somewhere in the neighborhood of 40 percent,
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In most election years, stocks are up. But when you think about the kinds of policies that are going to be implemented, the market gets a little worried. So, I would say up until the election you will see some very interesting dynamics. If they feel that a demonstration is favorable, drug stocks will get in then and all of a sudden the drug stocks will start looking hot. If the economy seems to be moving along nicely the high-tech new economy-type stocks will continue to do well,
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I kind of like consumer non-durables, (they are) all expected to earn 20 to 25 percent or better this fiscal year, ... They have good returns on equity, 15 percent plus. And I think they're priced appropriately within their price-to-earnings multiples.
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Investors have a long memory -- in those cases where we've had major oil shocks, overall demand has dried up, ... People are looking towards and fearing a slow-growth, inflationary environment -- stagflation.