News
Public Interest
Jul. 25, 2002
Is the Market Close to Bottoming Out?
Dicta Column - On the Courthouse Steps - Is the stock market close to bottoming out? - ;"If I knew the answer to that I wouldn't be practicing law. My crystal ball is not better than anyone else's. As a bankruptcy lawyer, I continue to perceive pervasive and fundamental weaknesses in the economy. Who knows? This could be awful for a long time."
Dicta Column
On the Courthouse Steps
Is the stock market close to bottoming out?
Joseph A. Eisenberg, Jeffer, Mangels, Butler & Marmaro, Los Angeles
"If I knew the answer to that I wouldn't be practicing law. My crystal ball is not better than anyone else's. As a bankruptcy lawyer, I continue to perceive pervasive and fundamental weaknesses in the economy. Who knows? This could be awful for a long time."
Jeanine Donohue, Drinker, Biddle & Reath, San Francisco
"I would hope so. Since most of my 401K is in the market, I don't look at the printouts. But I have faith it will come up."
Brian P. Donnelly, Farella, Braun & Martel, San Francisco
"God, I hope so. I'm no expert in this area, but I think it's getting closer to bottoming out, although I expect a lot more volatility at least through the end of the year."
Steven E. Bochner, Wilson Sonsini Goodrich & Rosati, Palo Alto
"I think we won't see a recovery in corporate earnings until the second half of 2003, but I do believe that stock prices are at or near the bottom. There appears to be capitulation in the market, which can be an indicator of the final days of a bear market. However, another Sept. 11-like event or a continuation of the slide in corporate earnings could extend the bear market for some time."
Michael Donahey, Snell & Wilmer, Phoenix
"I can't predict the future direction of the market as a whole. However, just like there were some insupportable valuations for some companies during the bull market, there are very compelling valuations for some great companies during this market downturn."
On the Courthouse Steps
Is the stock market close to bottoming out?
Joseph A. Eisenberg, Jeffer, Mangels, Butler & Marmaro, Los Angeles
"If I knew the answer to that I wouldn't be practicing law. My crystal ball is not better than anyone else's. As a bankruptcy lawyer, I continue to perceive pervasive and fundamental weaknesses in the economy. Who knows? This could be awful for a long time."
Jeanine Donohue, Drinker, Biddle & Reath, San Francisco
"I would hope so. Since most of my 401K is in the market, I don't look at the printouts. But I have faith it will come up."
Brian P. Donnelly, Farella, Braun & Martel, San Francisco
"God, I hope so. I'm no expert in this area, but I think it's getting closer to bottoming out, although I expect a lot more volatility at least through the end of the year."
Steven E. Bochner, Wilson Sonsini Goodrich & Rosati, Palo Alto
"I think we won't see a recovery in corporate earnings until the second half of 2003, but I do believe that stock prices are at or near the bottom. There appears to be capitulation in the market, which can be an indicator of the final days of a bear market. However, another Sept. 11-like event or a continuation of the slide in corporate earnings could extend the bear market for some time."
Michael Donahey, Snell & Wilmer, Phoenix
"I can't predict the future direction of the market as a whole. However, just like there were some insupportable valuations for some companies during the bull market, there are very compelling valuations for some great companies during this market downturn."
#337225
Staff Writer
Daily Journal Staff Writer
For reprint rights or to order a copy of your photo:
Email
Jeremy_Ellis@dailyjournal.com
for prices.
Direct dial: 213-229-5424
Send a letter to the editor:
Email: letters@dailyjournal.com