Robert Stovall
Robert Stovall
again fed last october raise rates
I think the Fed will raise rates again on October 5 and make some more jawboning attempts. It could be the last one for the year.
higher looking move shock since sustained trend war
Looking at every shock we have sustained since World War I, the trend has been to fall, then rally, and then move on to higher highs.
bottom eternal hope springs
We're a long way from the bottom and I think hope springs eternal for equities.
bond built largely prices problems raise stock sure worse worst
We're not sure what the Fed's going to do. And if they do their worst and raise rates, I think it's largely built into the bond and stock prices right now. So, I think the worse of the near-term problems are just about accomplished.
bank benefit bring coming companies financial focus major money partial political social sorts
We are coming up to the political conventions, and the Republicans, I'm sure, will bring up the semi or partial privatization of Social Security. And if that comes to pass, even in concept, long before it actually happens, it is going to focus on companies that would benefit from this: money managers, bank custodians, all sorts of the major financial companies.
incorrect markets moves past people statement statements
When (Cohen) makes a statement it moves markets sometimes. People who have made statements in the past and have been incorrect don't have much impact.
shoe somewhat white
When I was a rookie, the NYSE was somewhat of a white shoe club.
assets averages flows guess high last market money primarily quarters sector seems tech though
The tech sector is where the money seems to want to flow. You can just look at last week's action, when all the averages were up, the money flows into technology, primarily in telecommunications. And even though the valuations have been high all of these quarters and still are, I guess if you want to do well in the market you've got to have some of your assets in technology, definitely.
coke
Coke is down substantially, but I think that is all right.
created financial rid
I've created a financial Frankenstein here because I can't get rid of it.
drifting enthusiasm hard stimulate
It's very hard to stimulate enthusiasm. We keep drifting downward.
announced enormous great hope improvement merger room stock year
It's got a enormous room for improvement, I think, and rationalization. Just look where the stock was before they announced the merger about a year ago. And then I think there is -- there is a great hope there.
enthusiasm eventually investors tells turn
It tells us the enthusiasm of investors will eventually turn this around.
acted beginning cut early fed kick month opportunity several shots themselves year
(The cut is) the beginning of several shots in the arm. I think the Fed acted early in the new year so to give themselves the opportunity in the end of the month to cut again, if things don't kick in as they like.