John Manley Quotations

We're hoping the reward money will generate some interest in the community someone who knows where he is, where he's hiding,

I think Intel is still very good. It's done very well, but it is still a very, very strong story, ... I think Bank One is a very strong recovery story in the financial area. That usually does well as we see an economic recovery. Weyerhaeuser is in the forest products industry. A great secular story there in the next five to 10 years as home building picks up with the baby boomers getting older and the baby busters are getting bigger.

I think it's just the first taste of the (economic) data. The demand for technology still seems to be there but (inflation concerns) mean the market will bounce all over the place.

I think Wall Street is as out of its mind here on the bear side as it was a year ago on the bull side. I've seen too many rallies that were going to be 'The Bottom' that didn't work out.

The absence of fear is gone -- we're seeing the lack of the absence of fear.

I was ready for that three years ago when I sought the post, but you know times change and life moves on. It may not be forever but right now it wasn't the time to go back.

The rapid rise does tell you something that we know already -- the market is so starved for good news that it doesn't take much for the market to go up.

While it may not be a 20 percent year, it can be a better year than we've experienced so far. The ability to pick stocks, not just the good ones but avoid the bad ones, becomes very important.

You have to own technology until you see some signs the earnings expectations are not coming in higher than expected.

It would boost confidence in the overall equity market. The best statement a management can make that it believes in itself is for it to take the company away from you.

I've liked financials -- I think I have a terminal love affair with financials. They're very cheap stocks and I think you have a great decade coming at you with the baby boomers hitting retirement.

December, as the last month of the quarter and the last month of the year, is true- confessions month. For the first time we are seeing real, numerical signs that Asia is having a bigger impact on earnings than we expected.

Despite higher interest rates, we're seeing an economy that is not slowing down,

This is still a real growth sector. There was a lot of fluff in there, but a lot of that has come out.

They were feeling around with their hands down there.

This is the place to invest, ... The big caps in the classic pharmaceuticals I think are attractive on a longer-term basis.

There's clearly a lot of money that either was in stocks or could be in stocks. It's just sitting out there now.

(AT&T) soured the tone. People are trying to get a sense of how bad things will be (with Microsoft) and they're stepping aside to see if technology is still accelerating on a profitability basis.

It was clearly wrong to assume that this would be a walkover, ... but now I think the market is being a bit too pessimistic.

It's a very cheap company in the sense that if you look at multiples on both sales and earnings, it's slightly less than a market multiple, ... For 40 years this company's been near the cutting edge of technology. And more than any other technology company, you're seeing acceleration in earnings.

They are (trading) at a 40 percent discount to the market, ... That's a pretty big discount.

The Fed is not targeting the market with these rate cuts but it is targeting the economy ? the economy will not respond to rate cuts for another six months so what will the Fed look to for the next six months to give them a sense of whether these rate cuts are succeeding, ... My answer is 'the market'. Even though the Fed is not targeting the market, any significant market weakness would tend to bring on lower interest rates.

If I had to pick a number, I'd say probably around 5600,

These are not outrageous numbers. You just have very easy comparisons from a terrible point in time.

The idea is to invest it early in the year. There's a reason for money to go into the market in January, and that's what tends to give January the reputation for being strong.

The fact that the bond market is rallying today is a plus. If this ends up being a bear market, it will be one of the first ever that began when interest rates are down.

Both cream and scum can rise to the top, unfortunately. This lower-quality stuff that's going higher isn't doing it on fundamentals.