Neil Cavuto was joined by Jim Rogers, president of JimRogers.com; Gregg Hymowitz, founder of Entrust Capital; Al D’Amato, former New York Republican senator and FOX News contributor; and Jason Calacanis, CEO of Venture Reporter.
Profit Problem$?
Lots of talk that profits are going to turn around. We are counting on profits to lead the market higher; but are we going into a dead end?
Jim says profits are heading up which is one reason the market will show some strength. He owns and recommends Telecom New Zealand (NZT).
Jason says there is no profit boom coming and, in fact, there are many factors that could cause profits to crash. He thinks AOL Time Warner (AOL) is a good buy right now. He owns it.
Gregg thinks there has been a stealth profit recovery already. He believes the nation’s economy will grow four percent in the third quarter, which will help corporate America’s bottom line. He owns and recommends Reebok (RBK).
Al has great faith in the stock market, and has continued to invest. He’s on the Board of Directors and the Audit Committee of Computer Associates (CA). He says it’s a bargain and a great investment! He’s purchased 80,000 shares with his own money.
More for Your Money: Bear Hug!
There have been about a dozen bear markets in the last 50 years. On average, each has lasted less than a year before stocks started winning again. But the current bear market started in the Spring of 2000, making it perhaps the worst one in history. Will it get worst before better?
Gregg says it always looks darkest at the bottom. Big, down cumulative years have always been followed by big, up years. He owns and recommends BJ's Wholesale Club (BJ).
Jason thinks this market is going to be a real mixed bag with some strong gainers and some more violent failures, which he says smart investors can take advantage of by buying companies that are undervalued and have cash. An example of this is Dell Computer (DELL), which he does not own.
Al thinks we have started "wrenching" out of the bear market, but there is not going to be an immediate turn around because of worries about the war and weak earnings.
Jim says we will see a short term rally, but the long term bear market will resume in many stocks. He points out that market bubbles take years to cure especially when there are “fools” at the Central Bank as Japan proved in the 1990’s and our Fed is proving now. He owns and recommends iShares MSCI Japan Index Fund (EWJ).
Head-to-Head: Media Madne$$!
Don't believe the hype! Despite what you may be reading, everyone on Wall Street is not a crook. The media is overdoing it. But Jackson Bain, the Crisis Communications counselor and chairman at Bain & Associates says not so fast. Maybe these reporters have it right.
FOX on the Spot
Al says Democrats go along with Iraq attack!
Jason predicts winds of war send markets 10%-20% lower!
Jim thinks some things never change; Germany a problem again!
Gregg says Fed cuts rates, but stocks still fall!
Neil predicts the Fed will not cut interest rates on Tuesday, even though he thinks they should.
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