This is what Vince Farrell actually said on CNN last night. Holland thought that techs were being joined by other sectors. Farrell thought that techs, in general is not where you should be.
Moneyline News Hour with Lou Dobbs
Investor Jitters Sends Dow Industrials PlungingAired March 23, 1999 - 7:15 p.m. ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
V. FARRELL: I think I'd look on the domestic side than the international. Some of the financial stocks I like, because I do expect interest rates to behave themselves better. Washington Mutual, the largest S&L in the country, is very attractive. Partner Insurance, which is a Bermuda based insurance company, GTE I think offers compelling valuation on this correction that it's had, here. We've had terrific success with the cable stocks. And people think that cable into the home is going to be the only mechanism for delivery, but I think the Bells, especially GTE, have an answer to that in the DSL technology. And I like it at 15-times earnings, with a 3 percent dividend yield; a very reasonable valuation.
Domestic gas stocks I like very much: Burlington Resources and Unical would be the ones there. And even tip you toe a little bit in the tech sector. I think Compaq at $30-$31 offers a very good opportunity, but I don't think tech, broadly defined, is necessarily where you want to be. I think you have to take a "rifle-shot" approach. |
