That makes it definitely worth watching how bonds are trading. When there are problems at a company, the institutional bond investors tend to figure it out before the rest of the retail market and dump their bonds.
More Quotes from Lincoln Anderson:
There seems to be a lot of concern out there about earnings, which seems to be misplaced. When you add them all up, they're doing as good or better than the consensus expectations.Lincoln Anderson
I think this will be more of a company-led expansion instead of one led by consumers.
Lincoln Anderson
I look at that as really good news for the market you want something right in the sweet spot. We're just in a nice, smooth acceleration, and now people are starting to think that's likely to be sustained.
Lincoln Anderson
For five years I worked at the Commerce Department and did econometric modeling, and you could never get these numbers to load into consumption numbers. They're not leading indicators or coincident indicators. They don't tell you a lot.
Lincoln Anderson
It reminds me of PIO, or pilot induced oscillation, a lag in the plane's response to a pilot moving the stick, ... You push the stick down and the plane doesn't go down right away, so you push it down more, and then it really starts to fall. The same thing happens in monetary policy if you have gradualism in interest rates.
Lincoln Anderson
Earnings are moving right on up, and I don't see any serious diminishment of the earnings projections. It looks like we are going to do 10 to 15 profit growth in 2006. That is what is pushing stock prices higher.
Lincoln Anderson
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