The Fed is going to continue to tighten and what that's going to affect the most is the cyclical (stocks).

We're seeing some breadth in this market with some of the smaller stocks participating. We've had some big gains in some of the tech names. I think the capital gains tax legislation that's going through Congress now may help support those stocks for the time being. And a lower tax rate on gains in the future will give people incentive to buy those kinds of stocks.

Stocks are going to be under some pressure over the next six to nine months. Revenue growth is very modest, and that's going to dampen profit margins, as will the currency translation with the stronger dollar.

Our work, when we look out over the next five years, indicates to us that returns from fixed-income investments should be materially better than from U.S. stocks.

It's going to be a major, major, pervasive screen for our audience.

It's the fastest growing entertainment form, any way you look at it. It's sort of our unique opportunity to present a channel to an industry we think deserves a channel.