Financials and consumer non-cyclical stocks also interest Johnson. You look at a company like, say, Washington Mutual, in my judgment a great company, and it's a value play. Remember, investors in this market are looking for low priceearnings ratios and some dividend yield, ... Same thing consumer non-cyclical companies like Pepsi and Safeway I think are good investments in this environment.
More Quotes from Hugh Johnson:
If you separate out all the sectors of the market, it's no longer the case that technology is the most overvalued sector of the market, health care and energy actually carry higher valuations than technology now. So we are starting to get the levels overall in technology that really make some sense. And interestingly enough, if you take it even further, if you go to the individual stocks, stocks like Sun, Cisco, Texas Instruments, Oracle -- great names, they're starting to get to levels which, again, don't call them cheap, but call them cheaper and interesting,Hugh Johnson
The stock market has been closely connected to the bond market in the last two weeks, and today's stabilizing interest rates is probably the No. 1 reason behind the gains.
Hugh Johnson
Is the possibility of a tax cut and a rate cut enough to eliminate or neutralized the concerns about the economy and earnings, letting the January effect play out, ... Watch the overall market and if the shift from defensive stocks to economically-sensitive stocks continues, it may be enough to turn the tide.
Hugh Johnson
The market does have a valuation problem, ... But I don't put much stock in any valuation model, including my own. It's very rational -- it tells you when the stock market is overvalued or undervalued -- but it doesn't work.
Hugh Johnson
(This) week is going to give us a lot of important information about the start of the third quarter,
Hugh Johnson
Hugh Johnson, chief investment officer at First Albany, suggested that fear -- as much as fundamentals -- is driving the market to levels once considered out of reach. It's a vicious circle, ... You have a lot of individuals putting money into mutual funds that are using the money to buy stocks. You're simply afraid to be out of the market. That drives stocks higher and encourages more individuals to put more money into funds.
Hugh Johnson
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Based on Topics: Environment Quotes, Value QuotesBased on Keywords: non-cyclical, priceearnings, safeway
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