There is a general malaise and an air of frustration that has developed because there are not any compelling reasons to make big bets in this market.
More Quotes from Charles White:
If you think about what's really driven the drive in equity markets over the last couple of years, it's been those low interest rates. What's brought all the money in has been that we took short-term interest rates back from over 6 percent (several years ago) to 3 percent.Charles White
(The market) is telling you that at these levels, given all the warnings we've had from every Fed governor on the planet about the risk of higher interest rates, that people are nervous in front of tomorrow,
Charles White
This is a stock that's a consistent grower that's not being rewarded right now, ... And I think you've got an excellent entry point on this stock right now.
Charles White
First Data has bounced back. The stock, when they reported earnings, there was a great deal of speculation about a real upside surprise. It was one of those whisper number disappointments, ... But they're in the merchant processing business. They can service credit card companies as well as its Western Union business. Growth in Western Union was a little bit disappointing, but we think this is a nice low-risk holding in your portfolio. They're generating the earnings. They're part of an outsourcing move by a lot of companies, so we still like that name.
Charles White
And the chart just shows that company has had a series of higher highs, ... So from a technical perspective, the stock looks pretty good as well.
Charles White
It really kind of completes the picture in terms of convergence and the future of competition in the (telecom) industry.
Charles White
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