Barry Hyman Row Quotations

There's going to be this flip-flop next week and continually until we get through earnings season, going from earnings to worrying about the economic slowdown and what inflation brings so I think next week is going to be marked by that. We're getting to the point where the market needs good earnings. It needs to have a catalyst to get the growth sector moving again.

We do think growth is going to be the place to be again,

The bias for today and tomorrow should still be to the upside because of the end of the quarter when you get portfolio adjustments.

I think the year starts out very similar to how it's ending. Just because a stock is cheap doesn't mean it should be bought ? you have to look at the growth rate and I think the Fed lowering interest rates is going to be very important.

What you are seeing is the likelihood that interest rates will not go higher next week, making it easier to give these big cap growth stocks high valuations.

What will frame investor decision-making in August is going to be totally Fed-driven. We've gotten the anecdotal comments from Mr. Greenspan that we can achieve a slower growth landing but we now have to see that anecdotal evidence turn into fact.

The market is waiting to see the earnings because that is your first catalyst in the market that can possibly dispel the slower-than-expected growth that the market is anticipating. The market is very split today. People are just looking for reasons to own some things and reasons to sell others.

The market rally this week supported a growing opinion that January 31 will be the last interest rate hike.

Global markets are the best investment at this point. The growth story developing globally is strong, the companies have better valuations, and the trend is doing well.

The numbers look good, but it's two quarters in a row that analysts are skeptical about how they're reporting their numbers.

A worse-than-expected number tomorrow will discount what happened this week. If we get an inflationary number, the market will go down, but I think it all clears up by mid-June.

Trying to pick a trend in this market is impossible. Friday's action was anemic, and today there's anticipation of a stronger earnings season. Other than short-term traders, it's hard to negotiate a market that is so narrow in range. We're at least stable for now, but there hasn't been a trend for over a month.

Growth stocks on the large cap front with perceived consistent earnings can be looked at as better values.

Most of the growth stories are not performing today and that is how we'll go into the Fed meeting. There's still very little conviction in the market.

The economy is already slowing down without the impact of that 50 basis point hike last month, and I think what you have to look at here is the ending of the interest rate cycle. The growth stocks are technology stocks. And at this time it's a very seasonal thing as well. We are coming to the end of the quarter, so you are going to just get the great stock into the portfolios and sell the weak ones.

Don't expect 86 percent this year on the tech stocks, ... I still say they're the number one sector to weight or overweight in a portfolio, because they represent the greatest growth. Your companies at 8-to-10 percent are languishing. Companies with earnings, who cares. It's a 100 times earnings. It's 30 percent growth that matters in this market.

I like Wells Fargo. Super regional bank, great earnings growth, around 13-14 percent year over year. They just got past their 1 millionth on-line investor, and I want to have a super regional bank or a large bank that has an online presence.

I believe that the future of McDonald's is going to be their international growth. Let's not forget what President Bush is trying to do in Russia. Russia eventually is going to have to be our friend versus all this nonsense terrorism that's going on in the world, ... So, does the overseas market concern me? It doesn't because they are looking to marginalize that growth of 1-to-2 percent and diversify at the same time. I think the bad things are behind it and I like the stock.

It doesn't really determine that this year is going to be a down year. What it really indicates is the confusion over whether we're in a growth economy or not.

We've been stuck in an extremely narrow band for the last few weeks, and this could break us out.

For the market to make a convincing case that we've ended the decline, it's going to have to put together a few days in a row of advances or people are going to look upon up days as an isolated situation.

You have to be careful. There are not many sectors that are doing well out there. This is a slowing economy. People are looking for security of earnings. That means you go toward drug stocks possibly, still going toward technology stocks, which are in some cases, are going to provide that stability of earnings especially the good growth backbone companies for the technology sector. Avoid cyclical stocks, avoid retail stocks. Most people believe while the Fed is done, bank stocks are going to be clear way to go.

I think next week it will be important to see two things: solid numbers out of growth companies and seeing still a steady stream of economic numbers showing the required slowing of the economy with no inflation.

It is just an affirmation that the Nasdaq represents the growth sector of the investment universe. That is where much money is being put to work the last month.

We're supported by a rebounding economy after a weaker fourth quarter, and recently lower oil prices. But that's countered by concerns about slower earnings growth and higher inflation.

We're not at the beginning of a decline. We don't believe you're about to enter another horrendous down phase in the market measured by the Nasdaq. We think there are some tough times ahead over the next one to three months. But if you take a longer view of that, many of these companies in the Nasdaq big cap are starting to come down to levels that look fairly attractive on a growth basis.

We've accepted the fact that the earnings growth for the quarter is around 20, 21 percent year-over-year for the S&P. But there's been this behind the scenes look or under the surface look at revenue. And we haven't got the best of forecasts for the second half of the year in many companies going forward. And if you don't have that pristine look -- where you come in this earnings season totally clean -- you've gotten battered. And I can't even name more than a handful of stocks that have come through.

You're getting a lot of positive sentiment in the market and a lot of rotational shifting toward growth. It doesn't say that earnings are going to be better but it does lead one to believe that a lot of the bad news may already be built in.

I'm neutral on the market here, as I believe stocks will be caught in a range as investors try to figure out the story of inflation and economic growth going forward.