I think you ought to take advantage of whatever rally, if you have one today, to trim whatever holdings you have that may be a disproportionate percentage in your portfolio. You know, I've been negative on the very richly priced high tech, not all tech, but the very richly priced high tech, and I don't think it is too late to sell these.
More Quotes from Vince Farrell:
They may or may not have exposure to the hurricanes depending on where their business is written, ... But it's psychologically a good time to move in, because that's when these stocks tend to be toward their bottoms, and indeed they are right now.Vince Farrell
The good news in this correction was that there was a reason for it to correct,
Vince Farrell
I think we have to wait until 2002 for the Fed's rate cuts to take hold and stocks generally move ahead of the economy,
Vince Farrell
I think the bloom is off the rose of the very, very richly priced 'new economy' stocks. Many of these are terrific companies, many will be here a few years from now. But I question the prices that they all got to.
Vince Farrell
Management had a very candid conference call the other day in which they announced earnings which were pretty good and they're going to shrink the balance sheet a little bit, get back to the core business, ... They announced a 30 million share repurchase program. The stock is trading at about nine times (earnings). I think it looks pretty good.
Vince Farrell
All the bad news is not out yet, and I don't know if we're going to have another round of estimate reductions because the economy seems to be falling away far faster than any of us would expect.
Vince Farrell
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