I don't think you will see the Fed jumping to interest rates,

I think that it will lead to reforms and I am sure that the region will recover because it has tremendous energy,

I expect by '07 there will be a significant decline in U.S. consumer spending, and I don't see what will take its place, because it's so important as the motor of the world economy.

It will require, I think, the release of funds and perhaps even an increased package to bring stability, ... Everything that could have been done wrong has been done wrong.

As the housing boom cools off, there will be a shortfall in demand (which will) affect the global economy.

In my old age I have become somewhat conservative, ... But we will probably have a more mediocre performance because of the multi-manager structure, because to some extent managers can cancel each other out.