Bloomberg Audio Studios, podcasts, radio news. A single best idea and the single best idea over twenty years ago was some people trusted me to generate conversations and to generate longer conversations and the media a typical American conversation. It's very difficult for Europeans, where there's a much longer conversation. But it was three four minutes. Anything over for zero zero was sacrilegi. I mean, you can't do that. Nobody
can go longer. And a major shout out to people like don Imus Howard Stern, A major shout out to Charlie Rose, who had the courage to develop longer conversations from a time ago. Today was one of those magical we're back to back. We had Alicia Levigne, but first Robert, excuse me, look at me. Robert Stovall, his father, Sam Stovall, his son. I believe Sam Stovall showed up curious Sam Stovall. On Clint Eastwood.
I got the best bit of investment advice from Clint Eastwood when he was playing Dirty Harry in the movie Magnum Force. A man's got to know his limitations and basically emotions tend to be an investor's worst enemy, and so extracting your emotions and using declines in the market, using technical analysis to see how far the decline is likely to go, etc. Can then help you to buy on the dips, also realizing, as I mentioned, it takes only about four months on average to get back to
break even from declines of up to twenty percent. By the time you freaked out your financial advisor to lighten up on your equity exposure, the market's probably already on its way back to break even, and on average the market gains an additional ten percent after the conclusion of a correction or a decline of up to twenty percent runs it.
That's all I can say what he just said there, which is all the heritage of a Stoveall family, what happens at CFRA and goes back to the research of John Murphy and Ed Heyman and the rest. To use technical analysis to figure out where you are within the fear is the number one use of the lines that charts the exes and the o Sam Stovall there classic. Then we got better. Alicia Levine showed up with their prodigious mathematics from B and Y let's listen.
It's hard for me to see us getting to three percent growth, right. What you had in the eighties was three percent growth. So that's really what you need for nominal earnings, right, because earnings are nominal and growth is nominal. The thing here is, I just think what everybody's missing is the resiliency of corporate America and the resiliency of households. Of households, I have a chart that I use which shows the crushing of the household's balance sheet of debt
to assets. It is a crushing from fifteen years ago of the global financial crisis. It's basically been cut in half. Households are so resilient and there are fifty three trillion dollars wealthier than they were five years ago. So your assets, your financial assets, are going higher and your liabilities as a percent of assets are going lower. So you've got healthy balance sheets in the household sector. All that debt, of course was transferred to the government. But the households
are resilient, and corporate America is resilient. Large cap are resilient, less so for small cap because they've got floating right debt. But during a place where there's much more resiliency than the conversation we're hearing Alicia.
Levine of BNY across the nation and your commute thank You on Apple car Play, Android Auto Serious XM Channel one twenty one. Older digital technology seems bigger and bigger each and every day in the heat wave. Good Morning ninety nine one FM in Washington, ninety two nine FM in Boston, and Bloomberg eleventh forreoh. After a mayoral election in New York, a major shout out Lauren Emaus absolutely fabulous as our city hall correspondent on podcasts, on YouTube podcasts. It is a single best idea