You have a class of investors and you have a class of speculators. The speculators historically haven't been big enough to cause the investors to doubt the long-term vision of stock. ↗
Investors should be cautiously positioned as the global economy and markets face major uncertainties. The downgrade will be a further headwind to growth and job creation in the U.S. ↗
I think that the failures of Enron and WorldCom and other companies are partially failures of investors to recognize companies that are selling for a thousand times nothing, but chances are they may be worth only that. ↗
Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical. ↗
Our markets have not achieved their great successes as a result of government fiat, but rather through efforts of competing interests working to meet the demands of investors and to fulfill the promises posed by advancing technology. ↗
Our purpose, as we face these challenges, remains clear - fair and orderly markets that allow for efficient capital formation, while protecting the interests of investors. ↗
And so Fannie Mae produces very strong results for investors in - when interest rates are high and when interest rates are low, in recession and during booms. ↗