Phil Dow
Phil Dow
guess next position stocks trend year
The overwhelming trend will be more to position portfolios for the next year and my guess is that you'll see some of the stocks that have done well do better,
beginning critical early good guess invested january money positive year
My sense is that January is going to be critical this year and I think you can see a good beginning to the month. I think you can see a positive January and my guess is that's how you're going to see money invested -- early and strongly.
anticipate corporate earnings economic growth next people time year
Next year people will still be cautious. At the same time I anticipate corporate earnings and economic growth will come in better than expected,
america corporate drive earnings economy eventually financial focus general good guide half high home last lower main market people period productive rather second showing stocks time trade unique wears year
I think a productive economy is the main thing people should take home with them. This is a unique period in American history. I think we'll look back on it as a time you wanted to own stocks rather than trade stocks. I think, secondarily, corporate America is showing good earnings reports. The second half of this year may be lower than the second half of last year, but they're still robust, probably in the high teens. I think if you focus on financial guide posts, that eventually will drive prices. I think you'll see the market in general do better as the year wears on.
cautious community economy growth history negatively people percent recent surprised trading translated viewed wall year
This year I was a little surprised (at) how negatively people viewed the economy and that's translated into a very cautious trading community on Wall Street, ... I think we did pretty well. We had a 4.4 percent growth in GDP. That's better than in recent history and better than some of our trading partners.
basically equal last percent portfolio run three track versus year
If you look at our portfolio that we run here with a three-year track record, basically it's equal to the S&P the last three years. This year we're down about 1.8, 1.9 percent versus an S&P that's significantly more than that down.
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.
buy market opinion pervasive recovery stocks time
What I see is this pervasive opinion that there will be a better time to buy stocks and that we'll all know it when it comes. But it's never that way. The only way to participate in a market recovery is to be in it beforehand.
months several turnaround
We've got to get through that and it's probably several months before we get a turnaround in any sectors,
ahead believes expand holding market news seems volume
I think we are in a recovery, but no one ever believes it ahead of time. To me, it's pretty encouraging to see volume expand when the market is going up. And while the news is not improving, the market seems to be holding up.
cash compelling flow quite standpoint stock value
From a cash flow standpoint and a value standpoint, the stock is quite attractive, ... I think those are all compelling arguments for long-term ownership.
coming environment lead months six three tough
Guidant may see three to six months of tough competitive environment with competitors coming out with innovation, but after that we think they're going to really lead the marketplace with innovation,
buying expanding transition turned yesterday
My sense is that we may be at a really important transition point. Yesterday was a pretty important day. (The market) turned around on expanding volume, which indicated some real buying going on.
gradually historical moves series shock terrible
If we have a series of big moves up, that would be a shock to the system, ... but, considering where are from a historical perspective, they could go up more gradually and not be a terrible headwind for the market.