I think they should be very, very cautious. There's no rush but if you have some cash, now is the time buy selectively, ... I believe we're going to have a very quiet August but there's an old rule Never sell short a dull market because you usually get pretty good rallies.
More Quotes from Vince Farrell:
I think today, at worst, the Fed might tilt towards a tightening. But if they don't, if they keep policy unchanged, I would expect you would see . . . the bond market should rally significantly too.Vince Farrell
I like the guys that are located in Bermuda, because they have a tax advantage, ... All three are trading very close to book value, all three are trading between eight and 10 times earnings. I'm early on these, but I think we're going to have significant gains over the next couple of years.
Vince Farrell
Right now Fannie Mae is trading at a price to earnings multiple that is below its growth rate, yet Fannie Mae is one of seven companies in the SP 500 that's grown its earnings double digit for the past 13 years.
Vince Farrell
I think there is an era of optimism that pervades the financial community in the United States. There's just this feeling that stocks are going to go up, and up, and up.
Vince Farrell
I think what really triggered the rally was the surprise cut by (Federal Reserve Chairman Alan) Greenspan in interest rates. But earnings have been good enough to continue the rally. Now the concern going forward is Can earnings grow in 1999.
Vince Farrell
Everybody's going to continue to warn, but you have to try and put that noise aside. And we've been putting our toe back in the water, as I've mentioned to you, on technology,
Vince Farrell
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