All of the government statistics have been far less scary than consensus expectations. (Retail sales) were weaker than anticipated and seem to be consistent with the tone.
More Quotes from Charles Crane:
The sooner we can line up company A against company B and have some modicum of evidence the books have been prepared in a similar fashion, the better off the market is going to be. Even if the bottom line ends up looking mighty lean.Charles Crane
I think the advice to any investor is try to block out as much macro noise as you can but resist the temptation to think this is a market bottom -- it's a lottery ticket.
Charles Crane
The market behaved worse than most anticipated going into this period because the conditions of the economy were worse than any of us judged it to be. Earnings were revised down steadily and that kind of downward revision was not tolerated well.
Charles Crane
Second quarter earnings are very likely to be satisfactory in aggregate. A number of visible companies have warned of disappointments, but they are the exception rather than the rule. Earnings growth will probably be in the high-teens range when everything is tallied up.
Charles Crane
At some point investors are going to cash in some chips. We are getting close to the end of the quarter, and we have to keep that in mind. The next few weeks will be as choppy as the last few, but I wouldn't expect, barring unforeseen circumstances, the market to have too much risk.
Charles Crane
My broad advice is to concentrate on individual issues as opposed to trying to predict where the market is going. Making market calls is of very little value whatsoever.
Charles Crane
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