Analysts' forecasts for earnings I think are still a little too high. They are expecting 8-percent earnings growth. I don't think we're going to do that. For next year, they're expecting 14-percent earnings growth. I think we'll be lucky to do half of that.
More Quotes from Ed Keon:
When things seem very risky it often represents opportunity.Ed Keon
It is certainly a risk if you have new money in the market now with these kind of price- earnings ratios, ... If you're queasy about drops and ups and downs this might be a time to be a little cautious.
Ed Keon
The confidence in U.S. equities is just not there.
Ed Keon
Two thoughts. First, savvy investors have long ignored the cost of goodwill amortization in valuing a company (many prefer cash now). It's just cosmetics, ... If companies soar in value for the sole reason of this accounting change, I would take advantage of it and sell those stocks.
Ed Keon
Market strategists said a variety of earnings disappointments, along with early anxiety in the bond market, bruised the bull market and threatened to send stocks even lower. It is certainly a risk if you have new money in the market now with these kind of price-earnings ratios, ... This might be a time to be a little cautious.
Ed Keon
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