Quotes by Ray Rund

“The consumer confidence number dropping gave people a bit of a surprise.”

“The reduction in oil prices is whats acting on peoples psychology. Maybe were going to get lucky and oil prices are going to stay low and were going to get this end-of-the year rally that everybody hopes and prays for.”

“[Dell is] still a company that can grow, ... They have the cash. They can buy back shares.”

“It will largely be determined by how the companies meet expectations and set future expectations,”

“If the companies say theyre seeing strong orders so far in the first three weeks of the current quarter, that probably keeps things going. If they say they dont have any visibility, well probably have a pullback.”

“Over the long term, there is a recovery going on, but I think its slower than a lot of people would like it to be. On the face of it Id say its just one day where things happen to be a little stronger than others.”

“Every tech stock gets painted with the same brush those guys get painted with.”

“I tend to think were in for some period of weak growth, and Im not talking about a quarter or two. I think for all of 2003 maybe into 2004 well continue to see weak growth.”

“Were at a funny point in the cycle. The companies have reported that theyre seeing some growth for the next quarter, but its not robust growth, and the valuations on a historic basis are still pretty full. Whats driving these stocks is sentiment -- people are afraid that if they miss them now theyll miss a big run-up.”

“[Semiconductors] are an area that people saw as the premier growth area in the past. Anytime theres good news, people assume this is going to resume its growth and they rush back in. Theres no fundamental pattern that would explain why theyre up so much today.”