Word: levkovich
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...LEVKOVICH: We're getting a signal that things are improving, but we're not about to see a torrent of growth...
...LEVKOVICH: Let's understand what's happening. In May, [Alan] Greenspan got up in front of Congress and said he will use nonconventional tools to fight deflation. Bond prices soared, and yields plunged, because that meant if worse came to worst, the Treasury would buy long-term bonds. Then in testimony in July he basically took that promise off the table, and everyone sold Treasuries...
...LEVKOVICH: Stocks dropped more than $7.5 trillion of value...
...LEVKOVICH: I don't debate that. But they have come down a great deal and aren't necessarily expensive, especially if earnings continue to improve and companies keep raising dividends...
...LEVKOVICH: I have a personal bias against it because you're basically saying you're satisfied with mediocre returns. But I've had that problem all along...