Quotations

«We expect the DJIA to outperform the S&P 500 in 1999, following notable under-performance in many recent quarters due to differences in industry composition,»

«For the first time in a decade, our model portfolio is no longer recommending an overweighed position in technology,»

«Our economic outlook still calls for real GDP (gross domestic product) growth averaging 3-4 percent in coming quarters. We believe that economic and profit expansion can persist for longer at the moderate pace we project,»

«Equity valuation has improved since March, ... the most attractive they have been all year.»

«Smaller issues offer attractive relative valuation, following an extended period of share price underperformance,»

«[Abby Joseph Cohen of Goldman Sachs sees the index reaching 1,650, the middle of the range. In a research note, Cohen looked favorably on a market landscape that, because of the tech sell-off, narrowed the valuation gap between growth and value stocks.] We conclude that the equity market should be a much friendlier place going forward, especially for those portfolio managers who focus on companies fundamentals rather than momentum strategies, ... Careful selection will be the key to strong relative and absolute performance in 2001, as it has been since March 2000.»

«When investors come to accept the view that the seeds for economic reinvigoration have already been sown, a more aggressive approach will be appropriate,»

«We don't think so, and continue to assume long-term earnings growth of 7 percent-to-8 percent in our valuation model,»

«The primary assumption is that economic and profit growth will resume by midyear,»

«We expect profit growth to decelerate in the second half of 2004,»