It's foolish to jump the gun. The thing to do is wait until you actually see large caps outperform, because if you don't wait you can be a year early .
More Quotes from Hugh Johnson:
I see business spending recovering, but not in telecommunications or telecommunications equipment.Hugh Johnson
The worry is that the lid, or the cap, on interest rates is now off.
Hugh Johnson
The focus has been on earnings, and when you get something like Aetna, then that's going to help the market. But one of these days, that focus is going to shift to inflation and interest rates. And the Fed is going to have to get it absolutely right in order for this market to manage even small gains.
Hugh Johnson
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.
Hugh Johnson
Obviously the situation turns very heavily on interest rates,
Hugh Johnson
It's uncharacteristic of him to make big-picture investments, ... This whole area -- zero coupons, silver -- when he seems to depart from big companies, he feels uncomfortable, it's not his placehe's sort of saying to himself, 'this is not my cup of tea.'
Hugh Johnson
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