and the third time was qe 3, last september t third installment of quantitative easing, the fed throwing money into the economy. they are putting $85 billion into the economy every month. we just struggled with talking about taking $85 billion out of the economy over seven months. look at all those times. what does that say to you? well, doug is right, the fed is pushing people towards stocks because they re keeping interest rates down on a lot of other securities. but you can t get a return by putting money in the bank. well, you can t and you re not getting much by going into bonds, either. but there s something really interesting going on which is if you look at the broader market indexes like the wilshire 5,000 which is over 6,000 stocks, all the publicly traded stocks in the u.s., they have been rising even faster than the dow and s&p 500 which are the biggest companies that doug was talking about. so when you look at some of those middle market stocks, they ve actually re
about. so when you look at some of those middle market stocks, they ve actually recovered even more. they have already broken their records back in 2012 since the worst part of this downturn. so the news is not all bad in the middle of the market. doug, you re a conservative. you were republican, last i checked. president obama s been pretty good for the markets. this happens a lot. it was 6500 right after he took over. well, i certainly wouldn t want to have inherited the economy that the president inherited and it really had only one place to go, that was up. the financial crisis really took a beating. remember that a lot of this is just recoveries from very bad lows in recent years and that s good news. we want the markets to recover. we want the economy as a whole to recover. but as i said before, this is going to be a short-lived celebration unless we start to see the fundamentals of the economy catch up with, as dan correctly pointed out, people s expectations about what
future is this, nobody can do it. that is what is so dangerous to investors. a big part of my job is to protect main street investors from prognosticators and forecasters to piggyback on what pat said, roubini said stock market bulls have got it wrong in april 2009, right after he said that, the s&p is up 90%. small stocks are up 100%. and emerging market stocks are up 107. jenna: so you think it will get better? what do you think, mark, is it getting better, not worse? here is what i want main street to investors to think about. equities are the best long term creation wealth tool known to mankind but they are a 20-year-old hold. anyone that tells you they can predict the next 20% is either lying or delusional. next 100% is up. don t try to fall into that to try to predict what is coming next. jenna: matt, bring us down-to-earth a little it about. we re getting into stock traders and we re not all traders. matt, what do you really think about next year? i think next year will be r