Over long periods of time, stock markets generally go up. Japan was obviously an exception if you chose the wrong 12 years.
More Quotes from David Blitzer:
Also, they're in such bad trouble, who notices the fuel costsDavid Blitzer
The problem is that instead of having one way to calculate corporate earnings that everybody understands, we have two or three methods. And the one that most people use, there is virtually no agreement at all about what it means.
David Blitzer
The stock market suggests that there is fantastic bullish sentiment -- everybody feels good, looks good, thinks wonderfully of this economy, and indeed it is very difficult to say anything wrong about this economy,
David Blitzer
Clearly, if we take a stock out at 2, and 6 months later it's trading at 10, we look silly and people who invest in the index will say, 'I missed a five-times gain'. But in talking to people who run index funds, the vast majority of managers say take the low-priced stocks out,
David Blitzer
The market seemed to think the Fed's bias was a note of panic, but I didn't see that at all. It's a note of caution. If the Fed saw a boom coming, it would shift to a neutral bias. I don't think it should scare companies completely, but I certainly wouldn't go spend like a drunken sailor.
David Blitzer
The second quarter was clearly a soft quarter, there was a lot of weakness in manufacturing. I think we'll see a rebound but it won't show up until the August numbers. Getting GM back to work will be a big plus in getting things going again.
David Blitzer
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