We are coming up to the political conventions, and the Republicans, I'm sure, will bring up the semi or partial privatization of Social Security. And if that comes to pass, even in concept, long before it actually happens, it is going to focus on companies that would benefit from this: money managers, bank custodians, all sorts of the major financial companies. |
We need earnings to begin to improve. |
We're a long way from the bottom and I think hope springs eternal for equities. |
We're not sure what the Fed's going to do. And if they do their worst and raise rates, I think it's largely built into the bond and stock prices right now. So, I think the worse of the near-term problems are just about accomplished. |
When (Cohen) makes a statement it moves markets sometimes. People who have made statements in the past and have been incorrect don't have much impact. |
When I was a rookie, the NYSE was somewhat of a white shoe club. |
You've got a win-win situation. |