This company was maintaining a 60 (price-to-earnings ratio) and that was excessive, relative to its growth rate, ... Now, it's more reasonably priced. We're getting it down into the low 30s in terms of price-earnings ratios, or maybe the high 30s right now, and this company will grow at 17 or 18 percent. So Pfizer looks good, at this point.
More Quotes from Ned Riley:
You buy the market when the fundamentals are the weakest. I think the fundamentals are turning and I don't think people realize it yet.Ned Riley
I do think he's trying to pull a leadership role here a little more than being the economist, and that leadership is trying to get people upbeat.
Ned Riley
We have been victim of the success of the markets.
Ned Riley
I don't think the visibility is improving but I think stock prices have improved based upon the acknowledgement by investors that fundamentals couldn't get any worse and the major deterioration is taking place now.
Ned Riley
There's a pause today, but the bulls still have the upper hand. The economic releases continue to support the case for strong economic growth through 2004 and a continued recovery in the labor market. Yet there are still plenty of skeptical people out there, suggesting the market could continue to build on the gains.
Ned Riley
Investors are starting to exercise one of the golden rules of investing, ... And that's buying when the news is the bleakest.
Ned Riley
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New roads; new ruts.
Gilbert K. Chesterton