Michael Farr Quotations

The post-Labor Day rally, I wasn't sold on. The fact that we didn't really crash over summer, I thought was a terrific blessing. I think sentiment is going to drive the market from here. The numbers are there, the numbers have not changed. The economy has not changed, it is still good, slowing down a little bit. We've got a nice stable platform. Earnings for second quarter were fabulous. They ought to be pretty good, I think, coming in here to the third quarter.

We need dollars being spent again, ... Most recessions always end because the consumer turns. I think a lot of it is going to be in the tech sector and the tech recovery. Most companies weren't spending on tech as they've been just desperately trying to make their quarterly numbers.

Lots of employers don't want people around who aren't loyal,

Let's get back on that momentum boat, let's see if we can open our day-trading accounts again, ... But I can't help but think, where have you been for the past year? Haven't you learned anything? And wasn't it painful enough for you? Maybe we need some more pain, but I don't think we are going to get a lot more of it.

Now that the dropping has stopped, when do we start with the moving back up? That is the big question.

Poor J.P. Morgan. The company has got nailed on everything from Enron to Argentina and bad loans, ... But if we see the economy recover, the financial services will do well.

I also like Microsoft, and I particularly like EMC, ... These companies are going to come back.

Greenspan has been like a dog with a bone, very tenacious, ... I think the Fed will make a mistake. They will go too far. They always go too far.

I think you're getting a bit of a safe haven -- stocks with earnings look good. If money is coming out of the Nasdaq, it is going into Dow stocks.

I think the economy is recovering and we won't get into a double dip. But trying to forecast when that economic strength shows up in earnings is a kind of fool's game. We've been playing it for about two-and-a -half years now,

I think we've been in a search for leadership in the market. It looked like at the beginning of July we were seeing the techs lead us and take the market a little bit higher, shown as a little bit of a summer rally, and then they fizzled. And so did the rest of the market. And we've just sort of swooped lower. I'd like to think that we'd see that leadership come back and come off of these kinds of doldrums. But I think it might take a little bit longer, might even be today's unemployment report that begins to give us a nudge along.

I think things overall look pretty good. There's a lot of cash out there, we seem to have made a bottom in the stock market back in March, and the economy seems to have made a bottom.

I think we are looking for that next bit of information that's going to drive us.

I warn people not to put too much emphasis on earnings. Look for jobs where you can hang your hat. Where you can be happy.

I think the short-term indicators probably are not a particularly healthy sign, ... Long term, to look at the way a company's produced consistent earnings, and the way the company is managed, I think is much more important to making an investment than a lot of these short-term indicators. But, in a bull market, there's no such thing as bad news. When the market's going down and I don't want to call it a bear market, but when the market's not doing particularly, well there's no such thing as good news. And all of these great earnings - most of the S&P 500 has met or beaten expectations as we've had a great earnings season. And the market doesn't really seem to care. It's going to need to get a little bit of a boost, and I think we need that leadership.

People are more likely to enjoy, stay in and be successful at a career that suits their interests and skills. For these reasons, they would be wise to spend some time considering what they want.

owned it for some time. We've liked Bank One ( ONE ) for some time. They've been kind of murky in terms of guidance. Management has made some analysts nervous. But we think that the values are certainly there. Earnings growth is there. So, Bank One would be one of ours, too.

Will the Fed keep raising rates until the yield curve's inverted? There's not much margin for error here,

But, no matter who wins, we're going to see increased defense spending and a lot of that is already priced into the defense stocks,

An earnings boost doesn't trump a contrary verdict.

These are two very different stocks, ... Merck is one of the premier pharmaceutical companies in the world. It's selling at 18 times next year's estimates.

The one sector you have to keep an eye on is pharmaceuticals. It seems to me, every time Mr. Gore opens his mouth, pharmaceuticals start to dip.

You should evaluate employers just as carefully as they evaluate you.

This isn't a surprise. It's not a major setback, though we'd like to do better.

They've got a huge market share, ... They're the industry leader. American Power Conversion is growing earnings at about 18 percent.

Although we include jobs with all levels of training, many of the better-paying jobs do require technical training or work experience, especially in the list's top 10.

They are earning a lot of money, ... They've got great products, and they are going to get through all of this noise with the government.

You don't want confrontation - you want your boss to see you as an up-and-comer,

This is the time when we see what all these increasing inventories mean.

The more you know about the job, the industry and the employer, the more likely you are to present yourself well in the interview.

It puts the Federal Reserve in a bit of a conundrum.

It's a very complicated issue and it takes a lot of data to indicate a trend.

Despite all the advances in hiring technology, most people still get hired -- or, more often, screened-out -- based on a personal interview.

The news today (Wednesday) is bad, but bottom line is, who cares? In general, the news is good, we've hit a bottom and are going to start to see improvement.

Ebullience and exuberance are back. For a market that has lacked direction, it is reacting tenfold to the first positive catalyst that has come along.

It was out of favor two months ago in this short-term mentality market. They're growing earnings. They're doing a very nice job. Intel, I think, is going to be a nice core holding for the next 5 years. This month, next month, this week, next week -- I don't think it matters. If you have money that can be in the market for 5 years, Intel is a good place for part of it.

I like Citigroup as a nice core holding. It's a big money-center bank. They do have some exposure, of course, to Salomon Smith Barney in the brokerage industry, ... This stock has pulled back in here, $44.95 a share. I think that it's going to grow those earnings at around 14 percent -- 11 times and 12 times earnings, that's a cheap stock.

I'm looking for capital spending to pick up. Corporate America really hasn't spent money for the past couple of years, particularly on technology, ... While the consumer has remained consistent and constant and robust, corporate America still has money to spend.

If Microsoft is the only game in town, then they are going to negotiate with the state and the city,

I'm buying EMC. I think it's been killed. I think it's a leader in the storage industry. The stock has 30 times earnings, growing the earnings 25 percent.

If you're going to invest, invest in something that's more real, ... Like the old Wendy's commercials, 'Where's the beef?' Find some real beef in these stocks.

Higher energy prices are (affecting) the economy - and it's a big deal. It's putting a squeeze on consumers and Corporate America.

I don't think the bull market's over, but I think it's getting tired. I think it's slowing down, and I think it's going to continue to creep ahead, but I think you've seen the fancy action for a while.

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These are great core holdings. Intel has done particularly well and it is fully valued. If you don't own it, I think it should be in your portfolio.

These guys are the top operator in that industry, ... And certainly, with the Baby Boomers aging, people living longer, the advances in science and health care, we think that Sunrise Assisted Living is doing a great job growing their earnings and the stock price looks good to us for the long term.

You want to have some money invested in pharmaceuticals over the long term, and I think Pfizer's one of the best out there.

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The financial sector really hasn't come alive and gotten to levels much higher than they were a year ago. I think Wells Fargo is very well positioned. It's a cheap stock. It is diversified and they haven't been plagued by Argentina to the degree others have.