Word: yardeni
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Dates: during 1980-1989
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When automakers closed their ledgers on 1983, they reported sales of 6.78 million cars, a 17.9% gain over 1982 and the industry's best performance since 1979. Quipped Edward Yardeni, chief economist for Prudential-Bache Securities: "Consumers couldn't buy Cabbage Patch dolls, so they went out and bought cars...
...billion into the tax-deductible instruments between Jan. 1 and the April 15 deadline for filing 1982 tax returns. "Our IRA volume has been tremendous," says a Los Angeles fund manager. "It's coming from small investors, and they are providing additional muscle for the market." Notes Edward Yardeni, chief economist for Prudential-Bache Securities: "There's a tidal wave of money coming in through IRAs...
...that I will switch once it comes, because I'm expecting another bull run after that." The latest rise has persuaded some analysts that the best of times may now be over. They argue that the biggest bargains have already been snapped up. Says Prudential-Bache's Yardeni: "So far this market has made everyone look like a genius, but from here on in it is going to be tougher to pick winners." -By John Greenwald...
...remarks cheered Wall Streeters, who have been among Volcker's warmest backers. Many are willing to overlook the Federal Reserve's tolerance of occasional erratic swings in money growth because they support the chairman's long-term goal of stabilizing prices. Last week Edward Yardeni, senior vice president and chief economist of Prudential Bache Securities, put the Street's sentiments succinctly. "Under Volcker," said he, "the Fed has regained its credibility...
...chief worry is the ballooning federal deficit, which threatens to swell past $175 billion this year. They hope that a few more Democrats in the House will force the President to compromise on the budget, perhaps by scaling back his demands for huge increases in defense spending. Says Edward Yardeni, chief economist for the Prudential-Bache brokerage house: "Investors did not want a rejection of Reaganomics, but they wanted a policy that was a little more flexible, a little more toward the center...