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Redstone: U.S. on Brink of Bull Market

  • Reuters, Thursday, April 30, 2009 10 AM
Sumner Redstone, executive chairman of CBS, says he thinks the U.S. stock market is at the start of a bull market. And when a bull market begins, nine months later the economy turns around, he says.

"We are in the throes of something we have never seen in our history. [But] it's clear in recent times the market is looking for a bottom," says Redstone. This week the news was extremely bad on the GDP and the market went up. "In a bull market, the market ignores bad news. This week we ignored extremely bad news," he says.

The octogenarian media mogul says he has no plans to give up his controlling positions in CBS or Viacom. He also waved off fears that CBS's popular "CSI" franchise would see a drop in ratings once NBC puts talk show host Jay Leno in the same prime-time slot.



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1 comment about "Redstone: U.S. on Brink of Bull Market ".
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  1. Ava Morris from smv, February 22, 2010 at 7:03 p.m.

    Todays stock market is in great change since the global calamity shocks the world. Poor countries get more affected by this calamity. The market is been unpredictable. But the theirs something constant if you could only see in trading. Read foreign exchange is been a big part of todays market and it really make a great marker.

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