Entry in progress—B.P.
New York (NY) Times
Oil and the Ruble Drag the Market Down a Bumpy Slope
By THE ASSOCIATED PRESS DEC. 16, 2014
John Manley, chief equity strategist at Wells Fargo Fund Management, said the trouble in developing countries highlighted the stability of the American economy and its stock market.
“Yes, I do worry about Russia, yes I do worry about Venezuela, and you can’t really have oil come down more than 45 percent without somebody having a problem, somewhere,” Mr. Manley said. “But there’s an old saying on Wall Street, ‘In a dog-eat-dog market, get yourself a big dog,’ and the U.S. is the ultimate big dog when it comes to this sort of thing.”
New York City • Banking/Finance/Insurance • Thursday, December 18, 2014 • Permalink