The market is less narrowly focused on a small group of stocks, ... We're getting the benefit from the broadening of the market.

Growth stocks dominated the market,

I think many of the other tech stocks have begun to [benefit]. Fundamentally, since the market is moving away from desktop computing, a lot of the stocks, a lot of the companies have begun already to benefit fundamentally. But the market seems still to be tied to Microsoft as a stock, and slowly but surely I think we're going to unplug, detach from that, and technology stocks will be looked at independently. Microsoft will slowly lose its status as bellwether of technology.

We can't react, we can't do comprehensive planning because we have these narrowly focused silos of money that tell us this is the only thing you can spend money on,

You really have a two-tier market with tech stocks going down and everything else going up. Part of this is because valuations in technology stocks got overdone this year and, at the same time, the Dow hadn't performed and now they look cheap.

Even in an overvalued market, you'll still be able to find good stocks to buy. The market still looks okay.