“Obviously, the economy ails from important secular imbalances; there's a lot to be concerned about. But the cyclical forces indicate that, at least over the coming quarters, visibility is high.”
“If an Iraq war scenario were to unfold in the early part of the year, it would probably be welcomed by the market. Especially once victory is attained, which I think it would.”
“Nobody can pinpoint when this process will come to an end. But it is very clear that it can't go on forever. Do you let this bubble grow, or do you do something about it?”
