“This market needs a dose of good earnings expectations. It wants to hear, from companies, that prospects are improving because the fourth quarter is water under the bridge.”
“The potential for additional gains for stocks is limited given that we've had such a good run-up. We've been telling people to pare back a bit and reduce equity holdings.”
“A single-digit percentage gain looks more likely this year. We had a great '03, a great '04 and a great '05. I think we're due for a pause at some point.”
