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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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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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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There's just no obligation to jump in until we start seeing better (profit) reports and that won't be until July.
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It's a great performer in terms of earnings ability,
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The oil prices are creating a few problems. Prices are impacting the PPI report and also consumer prices and are also hurting our trade balance, what with the weaker dollar, because we have to pay more to import oil. However, there aren't a lot of inflationary pressures here beyond that.
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Certainly we like certain specialty retailers. We like the regional banks. These are companies and industries that have earned money through the recession, are continuing to earn money and seem like reasonably safe bets,
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The market is trying to build a base in what is the third-longest bear market in history. It's not going to end in one day when you're not paying attention. This is a process that you have to go through.
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These concerns are going to keep us from going too high. The general trend is up, but it won't make investors euphoric, at least until after the election.
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People are looking forward to 2006 and expecting to have more difficulties.
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The oil prices are creating a few problems, ... Prices are impacting the PPI report and also consumer prices and are also hurting our trade balance, what with the weaker dollar, because we have to pay more to import oil. However, there aren't a lot of inflationary pressures here beyond that.
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Markets tend to be very uneasy during the election year. One of the problems is that no one wanted to make a big commitment without knowing who was going to be at the helm.
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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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Earnings continue to remain strong, even for the technology companies, so I think, with the Federal Reserve saying we're afraid of a recession more than inflation, you're seeing bargain hunters coming in.