The stock market is very resilient. Earnings remain fairly strong, and stocks are still inexpensive when compared with other asset classes.

I grade my stocks. I'm what they call a quant, one of the geeks of the stock market.

Obviously very leveraged to the financial markets, ... When stocks are going up, this stock should do better than the market. When stocks go down, it should do worse than the market. So, there is risk here. But, it's the most diversified of the major broker dealers.

The ratings on Macquarie reflect its resilient earnings profile, supported by its well-diversified business platform and strong asset quality experience. The bank's ratings also stem from its strong management capability, well-entrenched risk discipline, and conservative financial policies.

This is really a stock picker's market and not an index picker's market. I'm not buying stocks on a group's performance ever.

A little bit of fear and pessimism should be a necessity