This is CBS I on the World with John Bachelor.

Here's John Bachelor.

To the south of France, my colleague Simon Constable, who writes for Barons, the Wall Street Journal, and other distinguished publications.

We go immediately to the story of the markets, however,

because recently Simon was visited by our good friend

Brett Arons at Market Watch.

I had an opportunity to speak with Brett

in these last hours, and we all reminded each other that the

present global sell-off and the turnaround Tuesday and the what what's

underpriced what's overpriced Wednesday, all of that adds up to we've been here before.

Simon and I met during the Great Recession of 08-09 that lasted some years after that. This, however, does not feel the same fashion.

The trigger, we're told, is the carry trade.

There are lots of, there's lots of blame going around, but this is an opportunity to learn how

markets get over-owned and then over-sold.

Simon, a very good day to you. It was the Magnificent 7 and the S&P-493. Now it's, I don't want to own any of this.

Your response to these market motions up and down, up and down,

up and down, what is your recommendation for the modest investor

and those with 401ks? Good day to you, Simon.

Good day to you, John. I would recommend with all these things,

people remind themselves that markets go up and markets go down.

They go in like the tide comes in on the shore.

You have the tide coming in, the tide going out, the tide coming in in the tide going out the tide coming in the

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