Phil Dow
Phil Dow
across amount fact good market tremendous
There was just a tremendous amount of concern, and the market held, ... In fact if you look at third-quarter performance, it was pretty good across the board.
companies eventually expect immediate mirrors people regain smoke
You're going to see a lot of companies voluntarily take the smoke and mirrors out of their business, ... We shouldn't expect to see an immediate recovery, but eventually people will regain confidence.
bad dangerous evidence looking meaning might news prize quite time traders
This is the first evidence that things might be better than they thought, and I think traders don't quite know what to do. I think we've been conditioned to bad news -- it's like a beaten-up prize fighter. I think it's a dangerous time to look for more of the same, meaning looking for more negative.
argue hard shock
Once we get over the shock of the headline, I find it hard to argue that this is a negative.
positive
This could be one of the more important positive tailwinds for the market,
alan chairman worried
But he (Fed chairman Alan Greenspan) also said they're still worried and they're not through tightening.
economy hopefully slowing summer technology
Hopefully we'll see the economy slowing down by the summer and technology will take off.
chase investors japan markets reason saw
It's frightening if you chase performance. One reason why investors went into Japan is that they saw the markets perked up there.
announced best breed businesses combined companies company fiber gas good kinds matter natural network pipeline reaches stock time trades unlock value williams wind worth
They have the best of breed kinds of companies in two really good industries. They have a natural gas pipeline company. In addition, a fiber optic network which will be 33,000 miles. Each have the wind at their back and we think the combined businesses conservatively are worth 60. Right now the stock trades for around 45. The company just announced a way to unlock that value with a spin-off of their Williams Communications Group. So we think it's just a matter of time before that stock reaches 60.
fed learned people predicting
You've got some pretty learned people right now predicting a Fed pause.
main problem technology worse
The main problem is things keep getting worse in the technology space.
degree election focus impact main president sales
I think the main impact of the election has been a degree of uncertainty. Once we know who the president will be it will be very much like Y2K -- it will come and go. You have to focus on sales and earnings, and those have been pretty robust.
accelerate america believe grow guess obviously recover
If you don't believe America is going to grow and recover from this, obviously you should sell, ... My guess is it's going to accelerate our recovery.
cut markets move neutral
If you have any kind of cut or a neutral bias, the markets will move higher.