Peter Bernstein WSJ interview. He thinks the current crisis will last longer than most people thought.
WSJ: How long do you think this whole process will take, before we get back to normal?
Mr. Bernstein: Longer than people think. The people who think we will have turned in 2009 are wrong. There has to be a respite along the way. Nothing goes in one direction forever. But it will take longer than people think. If that weren't the case, I would be talking entirely differently. I would be saying, "What an opportunity we have got." And I just can't believe that the opportunity is here yet. There is too much to unwind.