Carolyn Said reports on early signs of a thaw in the Valley.
Michael Smith, general partner at the Belvedere Group, an investment management firm in Tiburon, also was cautiously optimistic.
“The worst is probably over,” he said. “Is this the rebound? No, but a re- evaluation. A lot of the horrendous selling off (of stocks) has been done and things are showing some life.”
Most importantly, the latest financials show that buying has started to pick up, analysts said.
“Companies are making a little more money and feel they can spend a little more,” said Dan Niles, managing director at Lehman Bros. in San Francisco. “That reinforces that (positive) cycle.”