Many days . Sure, best way to tackle it for me would be to explain what my attitude was coming into 2018 and what im thinking presently. I came into the year thinking the market would trade in the range up 10 at best maybe down 15 at worst. That there was much too much complacency and i like to come back and discuss each separately too much complacenccomplacency. Everyone was many the same side of the boat. When everyone is in the same side, youve got to wonder a little bit third and most importantly, the conditions for a bear market werent present and the good Stock Selection would be rewarded not with standing the market, i dont think the market has the 15 downside mainly because the economys performing better and earnings are doing better. So i would say the downside is not 15 if im right id implore however the regulators in the Financial Services industry to deal with the crazy instruments that are destroying the best capital mark in the world i read last night on one of the servic
Good morning welcome to squawk alley. I am john ford with holly evans. After a series of wild swings in the market, major indexes are higher but not across the board. Dow up 240 the next guest says the fed is partly behind the mayhem the past couple days as the president tweeted about market volatility in the old days when good news was reported, stock market would go up, today when good news is reported, stock market goes down big mistake and we have great news about the economy Tom Mcclellan joins me start with the fed, you think theyre in the middle of this . Good morning. Yes, the president is right. But the link between that and the economy is not as strong as people think what most dont understand, there are two fundamentals that govern movements of stock market first is how much money is there, the second is how much does the money want to be invested the fed is in charge of mostly the first one. I brought a chart. Whats not reported, the fed is selling assets last week they dro