Nice looking back six years, the party was going to go on forever, just like it is being parroted right now. I mean . . . all problems have been solved, unemployment has been solved, companies have more cash they they ever had on their balance sheets, and we have saved ourselves from a fate worse than death, thanks to Paulson, Burnanke, and Geithner. Housing is up, housing stocks are up, and new sales are getting better and better. I mean . . . WTF am I missing in this picture. Lets revisit those wonderful talking heads six years ago, before the crash that has destroyed this country. Adios Amigos. John
Blast From The Past - 6 Years Ago Today...
Six years ago today, with the S&P 500 around 1460 - having risen 20% without a correction for seven months - a handful of Wall Street's best and brightest joined CNBC's Larry Kudlow and Bob Pisani to discuss the Goldilocks economy, why the bears are wrong, and where the market is going next. Sometimes, we just need a reminder to snap us out of that recency bias... for example, Bob Pisani: "We have got a global rally going on... and the important thing is... there's a floor to the market- every time, for the last seven months, they sell the market down for 2 days, it comes right back."
Ralph Acampora: "I'm bullish, but I don't think I am bullish enough...there's new leadership"
Larry Kudlow: "Goldilocks kicks some more butt and the bears of the last four years are wrong... as they climb the 'wall of worry'"
Bob Pisani: "Transports have been rallying - as the disaster that the bears keep talking about hasn't happened... When you are in a global expansion like this, to sell...is foolish."
and our favorite:
Bob Pisani: "People who keep talking about this real estate bubble don't understand... there are 3 things that bring down real estate markets: 1) the economy falls apart, 2) liquidity is withdrawn, and 3) supply overwhelming market - NONE of that has happened."
Video: http://www.youtube.com/watch?v=ak41rYp1lWQ&feature=player_embedded
