Hugh Johnson Quotes (158 Quotes)

There will be some early applause from Wall Street, but it will be subdued because there is a long road ahead. It does not signal the end of terrorist attacks both around the world and in the United States.

It's not good news, ... Even though the focus is on the Middle East and oil prices, these numbers clearly are not going to stabilize the markets.

Technology stocks have been leaders for good reason. The economy is growing 3.5 percent per year, while spending on information-processing equipment is growing 19.1 percent a year, after inflation. And spending on computers and peripherals is growing at a 41.1-percent rate. Technology is reflecting what lies ahead for the economy.

If I thought Cisco was going to grow 40 percent for one year, I would never pay two-plus the growth rate. But if I thought it was going to be a five-year deal, I would.

The price is down some, but it's clear that oil is at a level that raises serious questions about the U.S. economy and earnings going forward.

If you're going to bet on economists and strategists on one hand, and the markets on the other, take the markets every time.

I don't think it changes anything for Federal Reserve policy. Various early warning signs of inflation are still telling us they have to raise interest rates by 50 basis points and they are likely to do so when they meet next week.

The rise in oil prices and concern over the Fed's interest rate policy are very troubling to the market, ... That's going to present a challenge to this rally.

The inflationary news today was extraordinary. Even though we are seeing upward pressure on wages, it's not overwhelming. We are seeing some upward pressure on prices, but it remains very benign.

Although the expectations we've been hearing indicate a prolonged decision, the markets are telling us that the election will be resolved quickly.

Everybody's looking for every single data point that can possibly give them an edge in their analysis. I've seen folks put together a ratio of stock prices to weekly jobless claims, suggesting it's a leading indicator. That's preposterous, but there's an urge to move in that direction, to find every leading indicator you can get every day.

It's bad news for all of the things that have been doing well.

If there are lots of other signals of appending recession, take it seriously. But don't hang your hat on the yield curve.

When you say the stock market is overvalued, you imply that the stock market is going down. But there is a touch of lunacy in every bull market -- stocks can become even more overvalued. A rational investment policy in an irrational world is suicide.

We had a very solid move up in stocks in the first quarter. There's a good chance that what the markets will be left with is a great deal of uncertainty or even the belief that more rate increases are coming.

The truth is with Harley-Davidson, like a lot of other companies, like Wal-Mart and Target, we've seen ongoing, strong demand, ... Harley-Davidson's production has had to ramp up 15 percent per year for the last 10 years. That's pretty impressive and it's all been done to meet that ongoing demand.

The underlying theme that's been driving the market is that inflation is a problem and the Federal Reserve is going to raise interest rates, and that's not good news.

They face each other across the road like mad old duchesses in party clothes.

Everybody is going to know the same, but it's going to be less. The disclosure of information becomes more carefully managed than the Federal Reserve manages the disclosure of information.

The question is when will the earnings recovery begin and how strong will it be.

Usually what happens is that it really reduces the appetite of investors to borrow money to buy stocks for years. Not months - years.

Most investors are waiting for the employment report, because along with the ISM services and manufacturing reports, it gives us the first solid news about the economy in March.

That's a growth stock that is trading at an unusually high price-earnings ratio compared to growth, ... It's being priced as a rather racy e-commerce company. They've done a really good job (of adapting to the Internet) -- that company thinks great, they have a great culture.

The gains in those sectors is very good news, ... Investors are buying into riskier areas and it shows they're more optimistic about the economy and earnings.

The market is worried that the Federal Reserve will continue to raise interest rates well into 2006 and possibly make a policy mistake. If you look at housing starts they're very strong. Everyone knows the unemployment rate is low and the Fed is uncomfortable with that.

It's good news that the durable goods orders were stronger than expected, but those are August numbers and probably don't carry that much weight,

If the Fed raises rates three times, they're not doing it just to have fun. Life is good.

The stock market has become modestly overvalued and investors are using a variety excuses to take money off the table. I wouldn't be surprised if the current, corrective phase continues and the market declines another 5 percent.

Yes, it creates volatility around the world when they pounce. As a small investor, you should keep an eye on hedge fund activityIt's going to be a part of our financial landscape. You're going to have to live with that.

It's almost as though we're getting a crash, and it's coming at us one stock at a time,

(Greenspan) gave those words of reassurance. Today will set the tone, and, on balance, tomorrow should be positive.

There's an old adage on Wall Street bull markets climb a wall of worry. Needless to say, there are a lot of worries out there.

The Goldman Sachs news seemed to re-energize the bull market.

Today the market is pausing a bit, given the strong performance last week. There is lot of acquisition activity, which is giving the market some lift, particularly because oil prices are stable.

We're forever in search of the Holy Grail of investing and that's some formula to give us the answer, ... That's the whole problem. These things work - until you try to use them.

We have such speculation in Internet stocks already that it's earnings will be keenly watched and could stir up more speculation or spur a decline, depending on their results.

Obviously the situation turns very heavily on interest rates,

Usually, when you have a stock market mania, it's driven largely by individual investors borrowing money to buy stocks at prices that are too high. And usually, when a bubble becomes unwound, it's because of margin calls.

As the transition from the bond business to the stock business takes place, the stock business needs to recover.

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.'

Tobacco is the best performing industry in every single bear market,

I think it's a bygone conclusion that they will raise rates in January, but there's also debate about whether they'll raise rates in March.

The market is not doing well. At long last, it is doing what it should do in responding to the rises in interest rates.

We call it a potential critical fire danger stage. We extremely discourage any outside burning during a red flag.

It's too speculative. I hope that we get an correction soon, it's unhealthy.

The consumer price index rise was very modest. It suggests, as I think many of us have been forecasting, that inflation is in the process of moderating. The good news is investors can feel somewhat more comfortable about monetary policy.

There's fairly widespread anticipation that the economic numbers this week will be solid, though not great, and I think the market is reflecting that.

Frankly, Yale Hirsch attaches more significance to this than he should, ... Sometimes it the market does well in an election year and sometimes it doesn't. The real question is what is it going to do this time.

It injects some uncertainty. The worry is the Chinese economy will slow too much, and that will send markets down worldwide.

There are no real hiding places, ... But I would tell investors they shouldn't get too scared by what's happening. Don't forget that 70 percent of the time, stocks are going up. I don't know where the market is going in 30 days, but I know where it's going in 30 years.