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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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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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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I like AutoZone because it's got a rate of return on equity, somewhere in the neighborhood of 40 percent, ... It's got a great franchise. As the auto stocks get older and retail sales for autos are off a little bit, it means that the stock will get older and you have to repair your cars. And they're getting into the diagnostic lines, which helped.
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I do like computer software, and electronics. And therefore, you know my top picks right now would be large-cap companies in a high-growth area with good, solid, clean balance sheet, good return on equity and good earning projections.
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I think we're seeing investors being convinced that we hit the bottom and from here we'll go through some softening of the economy. But if we're going to get back into the market, we want to do it now because the market is a leading indicator.
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I think a couple quarters down the road, the worst will be over. This is a terribly oversold market and it is undervalued.
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I think tomorrow should be a fairly positive open, with the techs a little higher on Microsoft and in response to the action over the last few days. We've had a couple of ugly sessions and you're likely to see a little bounce off of that.
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People are looking forward to 2006 and expecting to have more difficulties.
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People are selling into some of the gains from the run this year and moving into the more defensive names. I think you could see more sideways movement for the next few weeks.
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I think the stock action has been very positive. It's getting to the point where people are more afraid of being out of the market than getting in it.
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Most analysts are calling for the market to rise between 5 percent and 10 percent next year, but I think it could be more like 15 percent. The economy is heating up, the employment picture has been improving and companies will begin spending more.
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We are basically being held up by geopolitical events,
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Stagflation is in the back of the minds of many investors right now. When they see energy getting quirky, they want to duck. And when they see the market rally, they want to take some chips off the table.
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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.