[The stock market's valuation is] very attractive. From two perspectives, first of all on the basis of projected 2011 earnings, we're selling at about 13 on the S&P 500 and in a low interest rate environment, such as we are in, that's really very low for valuations. So, I have no problem on a valuation basis at all with this market, I think it certainly has a way to run. I would just love to see, you know, oil and food come down a little bit so we don't have to launch into a massive tightening which certainly would scare the market.
And that might come into being. You know, there's this whole question of radiation from the Japanese reactors. I remember what happened with the SARS epidemic and the swine flu epidemic, actually those were much scarier in some ways than what's going on in Japan in the sense that that really had the potential of spreading worldwide. We know that really, outside the area right around the reactor, worst case scenarios they're talking about maximum 50 miles, I mean, this is not the type of potential that can really thwart the world economy going forward.
~Jeremy Siegel, professor of finance, Wharton School of Business, Bloomberg News interview, March 24, 2011