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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
MARIA BARTIROMO, CNBC ANCHOR: And it looks as if Katrina is a convenient excuse for companies to blame when their earnings fall short. That is today`s "Hot Topic." Mike Thompson is director of research at Thomson Financial. Randy Lert is chief portfolio strategist at Russell Investment Group.
Gentlemen, nice to have you with us. Randy, is this what you`re seeing?
RANDY LERT, CHIEF PORTFOLIO STRATEGIST, RUSSELL INVESTMENT GROUP: Well, Maria we`ve seen managers growing extremely bearish on consumer discretionary-type companies, really for the entire last quarter. We have a lot of issues out there. We`re at a point in the Fed tightening cycle where it`s easy for them to make a mistake and overshoot and decline growth. Certainly, rising oil prices and Katrina make their job harder, but be able to sort out what the relative impact is of all those different sources of unease, I think, is actually very difficult...
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