Historically, economic and political crises have been buying opportunities. Looking at 17 crises, ranging from President Wilson's nervous breakdown to the Gulf War, the stock market setback generally has been a short-term matter lasting no more than a few months.
More Quotes from Sung Sohn:
We knew the data collected after the attack was going to be weak, but I was a little dumbfounded by the fact that the numbers even before the attack were awfully weak, ... Even before the attack, the economy seems to have relapsed into the doldrums.Sung Sohn
If they don't deliver, we could see a sharp sell-off in markets and a drop in consumer confidence,
Sung Sohn
This report is a slow boat to China, reflecting continuing business caution about hiring people. Facing unprecedented competition from both domestic and foreign sources, businesses are still focused on productivity gains with as few employees as possible.
Sung Sohn
It will have some positive effect, but I don't think there's a strong conviction the stock market rally is going to be sustained. No one is really cashing it in and beginning to spend more money.
Sung Sohn
This cut ... won't do much good to perk up economic growth, ... Now, bond yields should be trending up. The Achilles' heel of the economy, business spending, won't be affected much by this cut.
Sung Sohn
This scenario is highly unlikely, but can't be ruled out. The best outcome is a gradual and orderly fall in the value of the dollar improving the trade balance this is in fact what has been happening.
Sung Sohn
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