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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
BILL GRIFFETH, CNBC ANCHOR: Crude realities now. You know Econ 101 would suggest that stock prices fall when oil prices rise. Now, we`ve got right here the price of oil over the past year and what it has done. It`s been a pretty good ride. Now, we have a price chart on stocks. Stocks haven`t exactly gone down as the price of oil has gone up, at least not yet. Stock prices not plunging. Well, the question we`re asking right now, will higher oil prices hurt future corporate profitability and by extension the broader stock market? Joining us with both sides of that issue, Brett Gallagher, he`s co-manager of the Juluisus Baer Global Equity Fund. He`s sees pain ahead, but Michael Thompson, director of research at Thompson Financial, is not worried.
Gentlemen, welcome, thanks for joining us.
MICHAEL THOMPSON, DIRECTOR OF RESEARCH, THOMPSON FINANCIAL: Thank you.
GRIFFETH: Michael, why aren`t you worried?
THOMPSON: Well, I...
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