Arnie Berman Money Quotations

The bond market is keenly aware that cash flows have improved and that the chances of investors getting back money they are owed is better. That's not at all irrelevant to stockholders,

In the midst of the mania there were a whole lot of companies that went public that were just pure plays on the willingness of businesses to throw money at new projects, ... Now that a lot of these companies have had difficult times, it makes sense that there would be consolidation.

You've had a narrow group of tech companies that have been delivering positive and accelerating growth characteristics and money tends to get concentrated in those few companies that are doing that.

Consolidation activity is actually a signal that service providers are scared and will start spending money again. Equipment companies are long-term beneficiaries of this and frankly, I think that's what the bond market is smelling out,