Tobias Levkovich Market Quotations

While many are focusing on the infamous bankrupt entities as the primary culprits for the market losses, once must recognize that several companies that have not been besieged by fraud allegations have also lost billions in value.

If powerful upward earnings estimate revisions have not been able to drive equity prices higher, we suspect that downward momentum in such estimate revisions may cause further stock market weakness to emerge in the next few months.

The investment community currently seems to be gleaning more of its market insight from the headlines scrolling across CNN and Fox news Channel than from underlying business fundamentals,

We do not think that investors have given up on the equity markets and we remain bullish over the next few months, ... the beginnings of an economic tailwind, the probability of needed incremental upward earnings revisions, reasonable valuation and relatively strong degrees of skepticism amongst investors we talk to.

The two primary factors that held up the market were the Fed raising rates ... and that energy prices were far more excitable than people had anticipated.

To a degree, the Japanese market has been marching to its own drummer for a number of years due to its economic difficulties.