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Non-Tech : Home Depot (HD)
HD 383.04+1.2%Nov 4 3:59 PM EST

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To: Don Earl who wrote (1017)8/24/2002 7:28:33 PM
From: Steve Robinett  Read Replies (1) of 1169
 
--Don

Tepid, lukewarm, so-so are the words I use these days to describe my expectations for the economy--say, at best, a 3% growth rate but overall less than that. closer to maybe 2% average. I expect this lackluster performance will continue for longer than people anticipate, perhaps five or more years, while the enormous misallocation of capital from the late '90s is digested. The market more or less reflects the economy (actually it reflects people's present perception of the future economy, but that's a different topic), so I expect a tepid, lukewarm, so-so market. Which is not to say there won't be bargains. HD for example.

Best
--Steve
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