In our view, we're going to have another down leg here because of the consumer. If you keep laying people off, that doesn't bode well for future consumer purchases. We have a negative savings rate and we no longer have the gains from the portfolios which were increasing wealth.
More Quotes from Brett Gallagher:
The market was down so far so fast recently that I don't think it takes much to get a bounce here. Investors were just determined today to be optimistic.Brett Gallagher
I thought the reason for core earnings was to present a picture of what earnings from ongoing operations really look like. But because of this one factor, and because it's going to introduce so much volatility, nobody is going to use it.
Brett Gallagher
What we're probably getting in the U.S. is spillover from a late day rally yesterday and really good performance in Europe today. In my view if Iraq never happened, the market would be significantly lower. I think the uncertainty has held up the market. The fundamentals are terrible.
Brett Gallagher
Intel says it can't put a number on the value of employee options. But any estimate is closer to the truth than zero.
Brett Gallagher
I don't think there's going to be enough bad news in December to send us lower. My guess is we go up through the end of December and we meet our day of reckoning sometime in the new year.
Brett Gallagher
I think it's extremely important for U.S. investors to get this idea. It's slowly becoming more mainstream. As the world has become more global, it's more important to get best-in-class, and the only way you'll do that is to compare companies globally.
Brett Gallagher
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