What the success of America Online has to be is to generate additional advertising revenue. They can only up the subscriber fee so often.
More Quotes from Vincent Farrell:
I think, on balance, earnings are up between 13 and 14 percent on revenue growth of about 8 percent. That's nice, very healthy, but not something to start a brand new leg of the bull market on.Vincent Farrell
This market is acting just like late stage bull markets have always acted in the past. What we have here are stocks that represent growth, not value. We have fewer stocks advancing and fewer groups, although it's broadening a little bit.
Vincent Farrell
We just finished the worst month we've had in seven years. Last week was a particularly bad week, with the SP being off about 2.5 percent and a lot of people being on vacation. It just sets the stage for a bit of a bounce back today.
Vincent Farrell
Now there would be a lot of people that would argue they are worth it. I would say, okay, maybe they are. But, gosh, if there's a stumble... if you're trading at more than twice your growth rate... the down side becomes horrific.
Vincent Farrell
I think technology stocks are in for a correction, but it's a perfectly normal correction. This is a seasonably weak period of time.
Vincent Farrell
I think the basic fundamental underpinnings are very sound. The banking system's sound, there's no near-term crisis to be had. It doesn't mean the stock market's not overextended - which I believe it is and is due for some sort of setback. But I don't think it's 1987 all over again.
Vincent Farrell
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Let us consider the critic, therefore, as a discoverer of discoveries.
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