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Sell when the market is falling. you don t want to do that. if your in for retirement purposes don t sell now because in fact, i think i kind of agree with you. at some point this will bottom out. when it does, i think the market will go on its way. don t sell in a down market. there s an old phrase on wall street, don t just, you know, stand there, do something. don t just do something stand there because you re going to make a mistake in your own retirement right now. and stephen is right. since the election, the dow is up 33%. now, it s lost all of the gains for the year and lost a quarter of the trump rally, but you have to put it all in perspective here. there s a lot going on, too. there s things called program trades, computers. we have a big move in the bond market which is what we have seen. sometimes you have selling in stocks that s tied to that that has to do with computer programs. if he s going to take credit for the boom in the stock market, which the president h ....
know now is are we getting into another recession now? no. i submitted my forecast to the various polls last week and said no, the economy would grow faster in the second half, things will get better. are there perils? of course. those with money who don t need credit or who have the ability to get credit can really do well in this economy and those without jobs at the bottom, with tough credit, are excused for thinking that things are bad. absolutely. if you don t have a job, it is still a depression outside. or still a recession. we re not growing fast enough to help those people. to create the kinds of skwljobs need, we have to grow even higher. ken rogoff is a former chief economist for the imf, the world s leading expert on economic crises. we have got something going on in the world. is it recession? is it worse? i think it is pretty clear we have never escaped from the previous downturn. we re still living in the aftermath of it. it is slow and rocky. a ....
You have to deal with program trades. you look at what s going on with the stocks, their pe s are in the basement. they have been sold off not because they are monday fundamental but for other reasons entirely. are you saying there s time to buy? if you were a long-term investor get your money to wo t buy high quality companies not small companies buy companies that pay dividends. gold on to them go to work and make the economy grow. a lot of people who probably see them. at least they weren t sell everything they own. appreciate. that s it for the fox business schedule. wall street will ep tomorrow at 5:00 a.m. eastern time on the ....
During the volatile trading session during the afternoon so that dropped basically 700 points in 15 minutes. we went from down 200 to down 900. they said it wasn t because of a glitch in the system. whether program trades or a backlog as art cashin talked about, whatever the reason they are saying it is not a mistake in the system. i just wanted to give that according to reuters to people at home. okay. what about the procter & gamble sell-off? how much does that have to do i mean, that s a major entity there on the dow. how much does that have to do with the way people reacted? well, it s interesting. whatever the reason it went from down 2% to 25% and now it s down 4% or 5%, obviously rallying back from that, what happens is that when someone sees a number pop like that, and there is a dramatic drop, people will sell. and that s just human nature. it s the fear trade. that is what happens. so on top of whatever momentum because of greece or what have you, people got scared and ....