The problem is that the stock market tends to predict downturns or upturns too early. The common joke is that the stock market predicted 11 out of the last nine recessions.
More Quotes from Sung Sohn:
In a similar vein, the world is looking to the U.S. to lead a global recovery. Clearly, the U.S. economy was and still is the locomotive pulling the world economy, ... All across Asia, Latin America, everywhere I go, they are looking to the United States for recovery.Sung Sohn
Two weeks ago traders thought there was no chance. If you had asked me Thursday, I would have said less than a 50 percent chance (of a December hike), at best I would have said a 50-50 chance. Now it looks pretty likely.
Sung Sohn
The central bank put itself in a box with the top lid open so that it can change its policy quickly in response to changing economic conditions.
Sung Sohn
Businesses are going to be waiting and seeing. The most important factor is how consumers behave, ... The cost of capital is important, but in the final analysis, you've got to sell products. If you're not going to sell products, you're not going to need capacity.
Sung Sohn
A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going up
Sung Sohn
It's pretty clear that all the pieces for capital spending are in place, including rising sales, lower inventories and increases in shipments and orders, ... So, despite what CEOs say in public, there's no question that capital spending -- outside of aircraft and telecommunications -- has bottomed and is on the way up.
Sung Sohn
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