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Barron's Mid-Yr. Roundtable: Archie MacAllaster
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From Barron's 6-18-07:For Archie MacAllaster, the animating theme is valuation, or the opportunity to buy fast-growing and financially healthy companies for much less than they're worth. The chairman of New York's MacAllaster, Pitfield MacKay, Archie made his name in financial services.
In Barron’s mid-year 2007 Roundtable, published in the magazine's June 18th issue, MacAllaster offers his take on where the market goes from here and a few picks:
"I see 2½% inflation, 2½% GDP growth and profits up maybe 6% or 7% on the year. The S&P 500 trades for just under 17 times earnings. It is a stockpicker's market -- the kind of market I like. When they're selling everything, it's no fun, and when they're buying everything, you can't make a difference. I thought the market would be flat this year, and it is up incredibly. By year end, who knows?"
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