Things have changed - what's behind this recent shift in market sentiment?
Jonathan Ferro
Julian Emanuel
It's actually the debt concerns - you cannot get away from the comparisons to the late 1990s
What makes you still bullish despite the debt component similarities to the late 1990s?
Lisa Abramowicz
Julian Emanuel
The macro backdrop is favorable - the Fed is going to be cutting, we're going to have more stimulus
Julian Emanuel
We haven't gotten data for the last month and a half - uncertainty is uncertainty and should be discounted
Julian Emanuel
Stocks being expensive is not a reason to sell the market - earnings revisions are phenomenally strong
Julian Emanuel
For a full bubble call, you'd probably need four or five Fed cuts