By coinnews 
00:00 Speaker A
How much more selling do you think we could see? And I guess, is there an ability for the genie to get put back in the bottle when it comes to the impact of these tariffs or at what point does it become something that is kind of unrecoverable from in terms of the equity risk?
00:19 Marianne Lake
Well, you always reach a bottom in the market. I guess the bad news is, I don’t think we have a bottom in the market. I do see more downside. But what we need to keep in mind is from the lows of October 22nd, the equity market measured by the S&P 500 is up 76%. It is very normal to retrace one-third to one-half of a move. That’s going to get the market somewhere around 5,000 to 4,800 where there’s a lot of technical support. And even if earnings have to tick down a bit, I think you’re going to start seeing value being created within the market, and you’re going to start seeing buyers come into the market. So we are anticipating additional volatility, and this volatility can go for, you know, a couple more months. We may not settle in until around June, but I do believe that the securable market is intact, and that these are opportunities to look at your portfolio, uh, to reallocate, and if you’re looking to add to equities, these are going to be very good levels.
02:04 Speaker A
But, Marianne, you know, if we are looking at a remaking of the fundamental underpinnings of global trade, even, you could argue, the fundamental underpinnings of what drives the economy in the United States, that feels like more of, you know, just not just sort of short-term or even medium-term choppiness, but something more profound. Do you not think it’s going to sort of play out in the market that way?
03:16 Marianne Lake
I I don’t think emotionally, uh, businesses, um, consumers, um, will allow that to happen. I think you’ll eventually get some form of backlash. You can’t keep this kind of rate of volatility and potential dislocation. Um, so I, you know, a couple of months of it I can see, but much longer term, I really don’t think that that that’s going to happen, at least not right now.