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.
More Quotes from Vince Farrell:
Yahoo is vulnerable to the extent that they're going to have to do something, ... Not necessarily an outright sale of the company so some sort of very close affiliation.Vince Farrell
Gee, maybe there's some risk in the equity market and maybe I should put it on the sidelines in cash or into fixed income for a little while.
Vince Farrell
I don't think the Fed is going to raise rates . . . just because of a report the Fed is worried about it. I don't see any sign of inflation.
Vince Farrell
The good news in this correction was that there was a reason for it to correct,
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
Those are all trading around 12 times earnings and have given us very good earnings growth in a depressed pricing environment, ... And I think the pricing is improving for those companies.
Vince Farrell
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