Nobody believed in the model when it said that stocks were 60 percent overvalued and nobody believes in it now. Valuation is like beauty -- it's in the eye of the beholder. |
The actual end users, the businesses that actually need these commodities, are discovering that they are making more money by accumulating inventory than turning it into products. It's sort of creating a panic-buying situation, scrambling to hoard. |
The bigger bubble is actually in the financing of homes. |
The bigger bubble is actually in the financing of homes. Mortgage lenders have loosened their lending standards. Rather than telling a lot of would-be buyers, particularly in places like California, that they don't qualify, they're coming up with all sorts of so-called innovative alternative financing. |
The Fed stopped raising rates in 1995 and I think they will do so again in 2006. |
The Fed's going to be raising rates because it realizes that good times will be followed by bad times, ... To have a rate of one percent whenever we have bad times again is simply not prudent. |
the government is one of the choke points in the year 2000 problem. It's one of the areas where we could have disruptions that could in fact produce a recession. |
The market goes through these bizarre mood swings. All of a sudden, people are concerned that we're in a soft patch and that it may get worse before it gets better. |
The surprises should be on the upside. It all adds up to very good fourth-quarter numbers. |
There could be a severe recession. That doesn't mean there won't be life on the planet Earth in the year 2000, 2001 and beyond. |
These people could be in some serious trouble. |
What is really new in the commodity world is the extent to which hard commodities have been converted to financial assets through exchange-traded funds and hedge funds. |
When fixed-income investors conclude that the central bank isn't going to raise rates any time soon, ... there tends to be a convergence of rates. |