00:00 Speaker A
I'm curious to get your view on stocks right now, though. You know, we've seen, obviously there's a little pause the last few days, but we've seen this big push higher day after day after day.
00:09 Speaker A
Does that continue in your view? I mean, it sounds like you think the backdrop is pretty good.
00:13 Speaker B
I think the backdrop is good. Uh, I I think we've got some more juice in this rally. Um, you know, it's hard to say, you know, when, how much more. Uh, I mean, I certainly think we're closer to the top of the big increase we've had since the April lows, but I I I would not be surprised to see another 5 to 10% on this stock market before we level off and could have a reaction.
00:37 Speaker B
Of course, as as everyone knows, uh, you know, trying to predict the stock market in the short run is sort of a fool's errand. Um, uh, I guess I'm one of the very few academics willing to stick out his neck and and do that. Uh, I'm going to certainly be wrong a number of times, but I think I I have my pulse on some of the basic market trends.
00:54 Speaker B
I think there's still go up. We're, you know, we're uh, you know, the end of August and September are notably very difficult months and we're just getting uh uh you know, the end of September now. so we're seeing that little softening. October is usually only a bad month if September is a bad month. So a lot of people talk about crashes in October, but the truth of the matter is that crashes in October are usually preceded by dramatic declines, uh in September and clearly we wouldn't have not had that.
