Jeffrey Saut Percent Quotations

The cheerleaders talk about the economy growing, but the economy grew at 7 percent from 1966 to 1982, while stocks went nowhere because valuations were too optimistic. And they're optimistic now, by historic measurements.

I'm not bearish. I don't think we're going into a recession and I'm not worried about deflation ... But earnings growth should only be about 7 to 8 percent this year and guidance for earnings keeps coming down.