Dick Grasso on the market selloff

Former UBS Paine Webber Chairman Joe Grano and former NYSE CEO Dick Grasso on the market selloff and the 2016 presidential race.

Grasso: Take Two Aspirin and Call Your Broker in Six Months

By China FOXBusiness

In an interview on FOX Business Network, Former NYSE Chairman and CEO Dick Grasso shared his take on stock market turmoil.

“Take two aspirin and call your broker in 6 months. This is dancing with the elephants going on right now. What people are forgetting is that China is not in a depression, they simply experienced shrinkage in their GDP from 10 percent to 5 percent. Wouldn’t we love to have that in the United States?” he said.

Grasso sees opportunity in the selloff.

“We are in a secular bull market with a predictable correction as we’ve seen over the last few weeks. People who have missed last 7,000 points of upside in the Dow can now take the opportunity to leg-in intelligently to a well-balanced portfolio," he said.
 

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