El Roy,
You got to stop following the herd mentality - things are not doom and gloom forever... Time to position for the Telcom Bounce. It's coming and it's going straight up. Losers can watch.
PROFIT FORECASTS FOR '03
Today, with the Dow Jones Industrial Average coming off a 355.45-point drop, there is little doubt that the herd is deeply pessimistic about the possibility of a rebound in corporate profits in the next 18 months. No numbers generate more skepticism than the estimates by big name strategists that the combine earnings of companies in the Standard & Poor's 500-stock index will rebound sharply anytime soon. "The most contrarian viewpoint there is among the institutional-investor community is the view that earnings will surprise people on the upside," says Jason Trennert, an analyst at International Strategy & Investment Group, a market analysis firm. If revenues only inch up, analysts say investors should look at companies that have steady performers in low-growth environments, including some that have fallen on hard times lately. Steve Galbraith, Morgan Stanley's chief investment strategist, lists Pfizer, Lucent Technologies, Fleet Boston and Intel among the companies that are likely to post healthy earnings growth next year. ... Wall Street Journal, 9/4. |
