### Comment:
“I predict that the stock market will eventually have a pull back. I don’t know when and I don’t know how much. I just think eventually it will happen” 
  
 You write your PhD thesis on that?

### REPLY:
Why don't you research the extent of corporate share buyback activity this year and the effect it has on skewing share valuations even in the absence of any material improvements in the operating metrics of the company.

### END.