Recent statistics have introduced an element of uncertainty into the economic recovery, ... We don't know if this is a cyclical, temporary slowdown or something more, and we're probably not going to have clarity on that until the fall.

And unfortunately, this group probably has more digestion ahead of it.

We're reeling. Everything is up on the table and we are going to be under this cloud for a while. For a long time, people have been so focused on earnings that corporate America realized that they can get away with playing games with the balance sheet, and now it's catching up with them.

Yesterday, a couple companies came in and surprised us. At this point in time, I'm inclined to take profits. I feel that we are fairly valued.

Statistics: the mathematical theory of ignorance

The feeling itself, it is the same. I don't really add the statistics that I had in Japan and the home runs here.