Stock Picking Will Matter in This Environment

We're talking 90 basis points between the up and down gyrations on the 10 year loan if not more um down 60 up 30 whatever it might be in the two years so again to me we're kind of kind of bobble here obviously on that line but that certainly looks better than the S&P that you just showed. I can't see what that level is down there on that triple bottom but I would imagine that's several percentage points below where we are now yeah. It pays to be a stock picker in this environment, he says. He believes Guy was exposed the lack of fundamental research by active money managers who were buying Silicon Valley before both imploded.