A Street Longtimer Speaks - WSJ.com:
"Earlier this year, nervous investors were phoning advisers with 30 or 40 years' experience, looking for their perspectives on the financial crisis. Now, investors are looking for people with longer experience. Mr. Glickenhaus got his training as a municipal bond trader at Salomon Brothers & Hutzler (now part of Citigroup) after studying economics and graduating from Harvard in 1934.
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Although Mr. Glickenhaus thinks stocks have fallen so far that a short-term rebound is likely, the economy is so weak and the financial system so damaged that a "recession or even possible depression will last for at least five years," he warned. "Eventually, we could get to 9500 easily on the Dow" Jones Industrial Average, a decline of about 8% from Friday's finish of 10325.38."