There’s a lot of potential demand embedded in analysts’ expectations that I think will be very real

David Goerz, Highmark Capital Management, $17b AUM: via Bloomberg.

Structural changes are often omitted from analysts’ assessments until the evidence is truly overwhelming and the implications have already imposed themselves. Structural changes are among the hardest things for analysts to identify and to price.

Mohamed El-Erian, CEO PIMCO, $1.1t AUM: via Bloomberg.

There’s no way the European debt problems are going to be enough to derail the growth that’s taking place in our economy and in Asia. We’re in the camp that hasn’t revised down because of the pullback.

Doug Ramsey, Leuthold Group, who expects  the S&P 500 will rally at least 19% by EOY: via Bloomberg.

Attempting to manage risk in an environment where everything that could go wrong does go wrong seems like a fruitless endeavor. The only defense that seems to work in months like these is being in cash.

Brad Balter, Balter Capital Management, a Boston fund of funds: via Bloomberg.

The housing market problem in China is actually much, much more fundamental, much bigger than the housing market problem in the US and UK before your financial crisis. It is more than [just] a bubble problem.

Li Daokui, professor at Tsinghua University, member of the PBOC monetary policy committee: via FT.

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