(The market) is telling you that at these levels, given all the warnings we've had from every Fed governor on the planet about the risk of higher interest rates, that people are nervous in front of tomorrow, |
And the chart just shows that company has had a series of higher highs, ... So from a technical perspective, the stock looks pretty good as well. |
Clearly with the case almost behind them now, their earnings momentum is clearly there, |
Companies need to get bigger so they can be competitive because there is no real pricing power. |
Every portfolio manager that you talked to is probably beaten up pretty badly right now. It's been a difficult environment but still, in all, it's an environment where we are going through the typical pre-release of earnings numbers. |
First Data has bounced back. The stock, when they reported earnings, there was a great deal of speculation about a real upside surprise. It was one of those whisper number disappointments, ... But they're in the merchant processing business. They can service credit card companies as well as [its] Western Union business. Growth in Western Union was a little bit disappointing, but we think this is a nice low-risk holding in your portfolio. They're generating the earnings. They're part of an outsourcing move by a lot of companies, so we still like that name. |
First of all, it is under-loved, |
has been a beaten-down group. We think there`s good room for a bounce there. |
I didn't want to waste any energy today. Sometimes it's tough when you're that far ahead, but I had the crowd cheering me on and my adrenaline was going. |
I think that's a great deal. This is a stock that was a stellar performer last year, has lagged a little bit this year. But, selling off that division just increased their focus on the more growth oriented businesses, and I think Bank of New York, even after the 2 or 3 point move yesterday, still is an extraordinary value at these prices. |
I'd like to see any [security]. More [security] would imply there's already something there. |
If you think about what's really driven the drive in equity markets over the last couple of years, it's been those low interest rates. What's brought all the money in has been that we took short-term interest rates back from over 6 percent (several years ago) to 3 percent. |
If you want to build the condos, that's fine, but to get rid of a cultural asset makes no sense. Don't destroy these buildings indirectly by leaving only the facades. It's a hypocrisy to say you want to preserve the history to then gut the buildings. |
It feels a lot different this time, ... Traditionally, you get interest rate cuts to stimulate domestic demand that is just foundering. ? But the U.S. economy doesn't need a kick in the pants right now to get it going. |
It makes sense and is more efficient to put us together. |