Brett Gallagher Quotes (35 Quotes)

Everyone has talked about employment being the missing link in the recovery, but as the weekly jobless claims have made clear for some time, employment is moving in the right direction, it's just moving very slowly. At whatever point a substantial recovery in jobs really takes hold, that's probably going to be a difficult time for the stock market.

There's a general concern about the economy and corporate profits, ... The deals seem to be driven by the ability to reduce costs or create greater synergies of scale, so it's not something that's going to help them meet next quarter's earnings.

It's unlikely the market would get a boost from that kind of a result. This time we have such a good outcome priced in that I don't think we'll have a huge rally once this is over.

It continues to be a tug of war with all of the uncertainty going on with respect to the Middle East. I don't think the markets are going to see long-term effects after a war in the Middle East. The die has been cast -- we are going into Iraq. The U.S. is looking to force a vote to show they've got a majority.

We're going to have to see better news and slow steady incremental gains over a prolonged period of time in order to build the market.

The Fed decision was basically right on top of expectations. Even the tone of their comments was balanced, as it should be. I don't think there were any surprises.

With pharmaceuticals, the problems are pretty well known. I don't think they're going to get any worse from here.

It's a little chicken and egg. The flows tend to follow the market, but when you get a nice six months in a row, the momentum can begin to carry itself.

GAAP is the most honest measure of earnings, ... but the main problem with it is the cyclicality of it.

There's been very little investment in infrastructure at these companies over the past decade -- tech was sucking up all the capital, ... Demand is picking up and you have this big, new demand from China, which is pulling away supply that might otherwise have headed to the United States.

After a big up day like you had yesterday, you have to have some digestion. Once things run up by a big amount, then investors have to step back.

Investors had to decide this (Monday) morning whether last week's rally was real or just a knee-jerk reaction to the previous week's losses.

Every market and every sector has different things that make it tick. So when we're looking, for example, at developed markets, we are bottom up stock pickers. We'll pick the best companies and see what kind of allocation that ends up giving us.

I think it's extremely important for U.S. investors to get this idea. It's slowly becoming more mainstream. As the world has become more global, it's more important to get best-in-class, and the only way you'll do that is to compare companies globally.

Demand will keep energy tight. Any pullback I view as an opportunity to add to positions.

This is a market that has no confidence. Corporate confidence is shot, confidence in earnings is shot, and confidence in Wall Street analysts is gone. Only time is going to heal that.

There's nothing for investors to latch on to with conviction. We're being tested on both sides. With no clear-cut view that things are getting better, the (economic) recovery keeps getting pushed out.

What we're probably getting in the U.S. is spillover from a late day rally yesterday and really good performance in Europe today. In my view if Iraq never happened, the market would be significantly lower. I think the uncertainty has held up the market. The fundamentals are terrible.

I don't think there's any fraud there, but they're the king of creative and aggressive accounting.

There's all this emphasis on the next Enron, when that doesn't exist, ... What's more common is a widespread stretching of the standards of accounting, particularly in what companies count as one-time items as opposed to recurring charges.

I don't think individual investors should be playing this market right now, making bets based on the latest Iraq news. Once the war ends, we've got underlying fundamental issues that will return to focus. The war is not the reason the economy is having trouble. Fundamentals have gotten worse since the beginning of the year and yet the market has gone higher because of the focus on Iraq.

The majority of earnings have been good, but there have been some misses and the market has reacted violently to them. This is a week that has put me on alert.

Intel says it can't put a number on the value of employee options. But any estimate is closer to the truth than zero.

I think the market is just biding its time, and we're going to have these back-and-forth days.

This is a stock where everything went wrong last year it bottomed out under 7 a share. What really attracted us was when we first started looking at the name, it was more of what are the assets worth. When we started putting that sum of the parts together we were coming out with numbers north of 20 a share,

In our view, we're going to have another down leg here because of the consumer. If you keep laying people off, that doesn't bode well for future consumer purchases. We have a negative savings rate and we no longer have the gains from the portfolios which were increasing wealth.

If your company comes up on the list of those that haven't signed, ... there's going to be a lot of questioning.

I don't think there's going to be enough bad news in December to send us lower. My guess is we go up through the end of December and we meet our day of reckoning sometime in the new year.

I thought the reason for core earnings was to present a picture of what earnings from ongoing operations really look like. But because of this one factor, and because it's going to introduce so much volatility, nobody is going to use it.

The market was down so far so fast recently that I don't think it takes much to get a bounce here. Investors were just determined today to be optimistic.

Some companies have a policy of currency hedging, and you have to factor that into the picture.

We've seen more bad news than good news on the economic front over the last few weeks, but the market has been trading higher. Earnings season will probably drive the market for the next few weeks, but at some point, we're probably going to be vulnerable

We seem to be certainly playing to the ebb and flow of the news on the Middle East. You had talk that the national security level would be raised and the market sold off immediately, then popped back up once it was dismissed. That's the kind of market we're in. It's rumor-driven, technical and the fundamentals are not playing a role.

It's always been the case of something you suspect but have never been able to prove. Earnings seem improbably smooth when you look at the businesses of the company.

It's the wildest market I've seen in some time, ... We've gotten to a point where we may get a short-term rally for the next week or two, but beyond that, the market is likely to retest those lows and even go lower. There still isn't much confidence out there. The market crossed back and forth over the breakeven line 18 times today Friday, which tells you how jittery investors still are.