We are in a healing process which will take a couple of months.

The bottoming process is going to take an awfully long time. There's been absolute decimation for many, many stocks, and there are many nervous shorts out there so you don't need much to spark a fairly vigorous move.

With scandal-ridden capital markets, a mediocre recovery and still high valuations, a lengthy bottoming and healing period is needed before we get a substantial upturn in equities.

We've had a lot of good news in the last couple of months. Most recently, we had the Fed hold the line, we had another employment report that was reasonable and now we've had gold plunge -- all of which have been encouraging to the bond market. Stocks have come along with the bond market.

I came to the realization a couple months ago that I am fat. If you get tired from walking - and that's all that golf is - then you are officially fat.

I'm getting married in a couple months.