I've attached little or no significance to blue and red stocks. There is this sort of popular sense that Republicans are good for business and Democrats are bad, but I think that's a colossal mistake, because it makes you think about the wrong sort of stuff.

[Stocks are in the middle of a retreat that has lasted nearly two weeks.] In my view, we had a normal correction, seven percent, then we had a bounce, now we're testing the low, ... The bond market's actually doing better. That's a good sign. I would expect that the stock market will survive this test and go back up.

[But stock strategists remained fairly optimistic, that the volatility that sent blue chips within grasp of a three-month low last week created buying opportunities.] The particular bullish case for the blue chips here is that they've really had a correction over the last month or so, ... I look for the blue chips to catch up with the rest of the market and make new highs later this month.

no longer believes that financial conditions are favorable enough to support a continued expansion in p/e ratios.

No sense makes sense

Have you no sense of decency? ... Have you no sense of decency at long last?