The Fed officials are talking very optimistically. Uniformly they were out there, on the tape yesterday and in interviews, saying that they are expecting a second-half recovery and looking for signs of a bottom sometime, very soon in the economy. So, you are going to have to watch the news very carefully going forward. I don't think anybody really knows. But if you listen to the Fed, you have maybe one more rate cut and then an improving economy.
More Quotes from James Awad:
The best news is cresting right now, ... so it very well may be that we had a fabulous run in the market from March 2003 to January 2004, we've sort of marked time since then, and we'll roll over for the rest of the year until we get better visibility on 2005.James Awad
This is a low-cost way to play the eventual turnaround in technology, ... They're a very strong distributor of hardware and software products and it's gaining market share on its competitors. The stock is 25 on 2.35 of earnings and you're not taking product risk -- you're 11 times earnings on Tech Data for the company that's got a 20 percent long-term growth rate.
James Awad
In the 'new economy' stocks, we're going to be looking very closely to see what the growth rate is, what the profit levels are, what the competitive dynamics are. In the 'old economy' stocks, the issue is going to become How deep is the slowdown Where does it end And so people are going to be doing it stock by stock. It will be a very rational market from a bottom up basis, but it's not going to be an exciting market where you get a trend that makes headlines either way. So I think it'll frustrate both the bulls and the bears.
James Awad
The best time in the stock market is when interest rates are low and earnings are poised to grow.
James Awad
North Fork Bancorp stock is selling at about 20. We think its fair value would be about 30. But meanwhile, you're getting a 3 percent dividend yield and it's selling at 10 times earnings. Demographically, it's a very attractive area. So, your risk in buying North Fork is that you're a little bit early and the market doesn't care about value stocks for a while. And of course, in a period of rising rates, financial stocks don't do particularly well. But, ... if you buy it and put it away, you'll end up making 50 percent from current levels over a 12 to 18 month period.
James Awad
The sweet part of the market is what I would call growth at a reasonable price. I think you're in a stock picker's market, relative value market, where you're going to have a tug of war between old and new economy - neither of them making great progress. But if you find a good stock with good growth at a reasonable price, it'll be an environment where you'll be able to make money,
James Awad
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All of us, who are members of the Germanic peoples, can be happy and thankful that once in thousands of years fate has given us, from among the Germanic peoples, such a genius, a leader, our Fuehrer Adolf Hitler, and you should be happy to be allowed to work with us.
Heinrich Himmler
Never worry about bad press: All that matters is if they spell your name right.
Kate Hudson
As Bill Clinton said so eloquently at the convention, during Vietnam there was a chance to serve; there was a chance not to serve.
Mark Shields