William Hummer Quotations

The main point is that the Asian shock is creating deflationary pressures throughout many commodities as well as energy, so I think this is long-lived,

The third quarter earnings have been fairly well received and I think there will be anticipation that fourth-quarter earnings could be better than expected,

We're entering a seasonal period now, pre-Thanksgiving, pre-December holidays, where we often see a stock advance,

The services sector is showing some inflationary pressure, and wages are starting to climb.

The strength of the economy since the beginning of the year has been an embarrassment to forecasters. There is much more momentum than most people recognized.

We see the Fed easing as a flu shot that will help prevent recession in 1999, but fixing the global problems that underlie the markets' malaise will require major surgery. So basically, I think the market sees through this as a temporary boost, but there are fundamental problems that aren't yet resolved.

There are a combination of forces which could be positive, on net. The market's been held hostage by the election and Iraq, and those may at least temporarily fade as preoccupations if better economic news takes hold.

I think the likelihood of gaining is reinforced this year because we've gotten to an oversold condition due to all the negatives that have weighed on stock investors,

If the Fed is right and the economy continues to expand, we'll see that happen and see it reflected in the earnings for the second half.

There are a tremendous amount of investors who are very happy with the floor system, ... That is not to say that over years advances in technology and efficiency won't change that. My perception is that the change will be glacial, not abrupt.