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Think how weird profit margins are: We've got high unemployment and financial crises - and world record profit margins. People think the American market is very cheap. We don't. The market quite incorrectly gives full credit to today's earnings.

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.

We have the fact we sell out every week to 67,500 and hopefully 75,000 in the future. We have a lot of assets.

The stock market can be down, but the stock market is not an indication of where people's spirits and enthusiam are, and where their intellectual energy is.

Obviously, no one knows when the market is going to bottom out, and I am certainly not an economist.

If you're saving for the long run, it's actually a good thing when the market is down because the more shares you have, the more you can potentially make when markets rise. And over time - decades, not months - the markets rise more than they fall.

People often panic when the markets go down and sell off their stocks - but then they aren't in the game when the markets are doing well.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy.

The market, as we're all painfully aware in the aftermath of the banking crisis, can be an idiot. It has no perception of right or wrong, or even sensible or insane. It sees profit.

Today the financial market is no good, but the money is there.