Robert Barbera Quotes
Traditionally, the stock market does well in the first year of recovery because you have a sharp rise in productivity and moderating wage demands, so unit labor costs plunge and profits grow rapidly. All the data tell you that is happening. What's weighing on the market is the recognition that the last three years' earnings were largely created by clever accountants rather than strong fundamentals. 
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Traditionally | Stock | Market | Year | Recovery |
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It's a much smaller part of the U.S. economy than it was then. Today nine out of 10 jobs in the United States are not in manufacturing.
- Robert Barbera
Traditionally, the stock market does well in the first year of recovery because you have a sharp rise in productivity and moderating wage demands, so unit labor costs plunge and profits grow rapidly. All the data tell you that is happening. What's weighing on the market is the recognition that the last three years' earnings were largely created by clever accountants rather than strong fundamentals.
- Robert Barbera