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This sort of enthusiasm for it. so what's the feeling like and why? >> i'll tell you one reason why. because too many people haven't been invested in this rightly. we've had 24% to the up side on the s&p so far this year and they're thinking i'm worried, i better own some of it or my investors will say why did i miss out. but as you say, the enthusiasm is tempered. for instance only 52.5% of companies reporting in this earnings season are actually beating expectations on revenue. on revenue itself, sales only about half are beating expectations. so the numbers in sales are pretty average. data...

Averaged 52.5% of the vote. one six-year cycle period, 52.5%. the other, the majority. this is not about mitt romney, it's not about chris christie. it's not about the storm. it's about a deep obsolescence. the republican party has slowed to a new reality. what it used to do, it worked so well. and it's difficult to admit it doesn't work anymore and hasn't been work for a long time. >> is it just because there -- the percentage of white people in the population is diminishing? >> no, it is not about that. it is not about the latino vote only. it's about the american middle class. the republica...

Republicans won five times out of six. even if you include their defeats. even if you includes the three-way election of 1958, they averaged 52.5% of the vote. one six-year cycle period, 52.5%. the other, the majority. this is not about mitt romney, it's not about chris christie. it's not about the storm. it's about a deep on sole lessens. the republican party has slowed to a new reality. what it used to do, it worked so well. and it's difficult to admit it doesn't work anymore and hasn't been work for a long time. >> is it just because there -- the percentage of white people in the population...

In the past six elections, the republican party has won a majority of the votes in the presidency just one time, 2004. six elections, five of six, less than half the vote. in the previous six presidential elections going back to 1968, republicans won five times out of six, even if you include their defeats, they averaged 52.5% of the vote. one six-cycle period, 52.5%, and the other never a majority. this is not about mitt romney. it's not about chris christie it's not about the storm. it's about a deep obsolescence of what the party was doing. the core problem is this. like all successful inst...

Six elections, five of six, less than half the vote. in the previous six presidential elections going back to 1968 republicans won five times out of six, even if you include their defeats, they averaged 52.5% of the vote. one six cycle period, 52.5% and the other never a majority. this is not about mitt romney. it's not about chris christie it's not about the storm, it's about a deep ob sa lessance of what the party was doing. the core problem is this. like all successful institutions, general motors after the 1960s, the u.s. army after world war ii, the republican party has been slow to chang...