Welcome to the weekend bike presented by Wall Street breakfast.

I'm Leslie Osmond and beer is moving the markets.

Are we seeing a bull run or are we seeing a bear market rally?

We'll cover these topics in today's episode along with inflation

and monetary policy. Joining us today is Jim Paulson, chief investment

strategist of the Luthold Group. Welcome, Jim.

Hey Leslie, thanks for having me.

Jim, so clearly the markets are in flux.

Do you think that we're experiencing a bull run or a bear market rally or perhaps none of the above?

You know, I look at this episode we're going through Leslie very much as a kind of a normal

traditional correction.

It could

be a bear market, you know, it was intraday already and I'm not saying it couldn't go lower but

if the character to me is more like a typical correction,

generally in the second year of a bull market we get a correction.

This has happened and happened in 8384,

it happened in 9394, it happened in 2004, it happened to 2010 and 11, all of that in the second year of a bowl and they lasted

almost a year or a little more and I'd say this one is very similar to that I

would argue Leslie that the correction really started,

really since last spring, March or April, last spring,

a lot of the market, small caps, dip value, a lot of the piece of the market, cyclicals have not done well

since over that period and almost every part of the market has been dipped at various times.

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