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Caller.com: National/world News
"I think the best you get here is a rebound," said William E. Rhodes, chief investment strategist of Rhodes Analytics in Boston."I don't think the market is finished going down."
Financial stocks erased their losses of a day earlier.Citigroup
and J.P. Morgan Chase fell 15.7 percent and 18.1 percent, respectively, on Tuesday after senators questioned the banks about helping Enron
hide some debt, which bank officials denied.J.P. Morgan officials responded on Wednesday to concerns about the legal fallout from Enron
by announcing in a conference call and on television that senior management would be buying the stock for their own portfolios.Citigroup
gained 9.6 percent; J.P. Morgan rose 16 percent.
As Stocks Slide, Investors Hope for Positive Earnings Reports
"Generally when there are no bulls in the market," said William E. Rhodes, chief investment officer of Rhodes Analytics in Boston, "the market hits a bottom."
Last modified: April 18.2005 12:00AM
Active Investor Toolkit | Reuters.com
That's a given," said Bill Rhodes, principal of investment strategy firm Rhodes Analytics, which tracks short-selling activity.
William E. RhodesChief Investment Strategistrhodes@willcap.comMr. Rhodes is the Chief Investment Strategist for The Williams Capital Group LP
.Before joining The Williams Capital Group , Mr. Rhodes worked at Merrill_Lynch & Co. in Boston , and J.C. Bradford & Co. in Nashville
.Born August 3 , 1960 , in Columbia , Tennessee , Mr. Rhodes
majored in mathematics and pursued graduate studies in management at Vanderbilt University
concentrates principally on U.S. markets , but his
research covers equity , fixed income , currency , and commodity markets around the globe.He
focuses on relative price to determine which markets and sectors of those markets are likely to outperform or lag their benchmarks.His
work takes into account the environment in_which markets operate , including trends in economic liquidity , profit margins , money and credit , pricing power , and the relative performance of small and large issues.He
has_been quoted in many publications , including The Wall Street Journal , The New_York Times , The Los_Angeles , International Herald Tribune ; Grant's Interest Rate Observer ; USA Today ; Bloomberg , Reuters
, Knight-Ridder News , television , radio , and various local papers.
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The class struggle and the economic cycle (Once again on the World Economy)
William Rhodes, chief equity strategist for Williams Capital was quoted as saying: "People are asking themselves whether this is the end of the sell-off."
The present bout of selling is probably just an anticipation.But it is a serious warning that the boom is reaching its limits.The International Herald Tribune
(19/10/2000) quoted the worries of one American investment analyst: " 'It seems like what we've got going is largely a financial-market event,' said Stephen Slifer. chief US economist at Lehman Brothers. 'The concern has to be: To what extent does that spill over and become an economic event?'
"One worry, Mr. Slifer said.Is that the recent tightening of liquidity in the corporate bond market could slow the pace of high-tech investment by companies.
they get their money back?Ericsson
, another important company in this field, is now struggling to keep its share in the crowded handset market, with a barely one percent profit margin.
Actually, it is not a bit of use arguing that there is a lot of new technology coming on stream: flat television sets, digital TV and mobile phones with Internet etc.Yes, all manner of wonderful inventions are, of course, possible.But we must not forget what Henry Ford said: "I am in business to make money, not cars."We know that all this technology exists.
the Fed ignore these pressures and simply cut interest rates to stimulate demand during a slump, as the text-books require?It would be a bold person who would bet money on such an outcome!The bankers' natural instincts would be rather to allow output to fall to what they regard as a "sustainable level".If, in order to combat the demon of inflation and restore the dollar to its former glory, it is necessary to endure the pain of unemployment (pain for the working class, that is, not for them!) then so be it!Such a position is quite logical from a capitalist point of view, and if it leads the world into a deep slump, then that is just too bad.Such a scenario is, in spite of everything, entirely possible.
But, as predicted by the Marxists
there be a Slump?"