joining us is bob dahl, thank you for being here. >> thanks, becky. >> we saw big moves from the fed ending qe and then the bank of japan with its surprise move making room for more quantitative easing on its side of things. the market's loved all this, what do you think? >> i think it is generally good news. we know outside the u.s. japan in particular, europe not far behind, they need some of the same medicine that the fed gave the u.s. and they are finally getting there. >> we've talked to a lot of people during the week. one person at one point said, look, this is -- there's no alternative. the markets are the only place to be. is that your read of things, too? >> well, the real economy is doing better in some places, most notably the u.s., take the gdp report this past week. and so i think investing in the real economy for growth is also working, becky, but yeah, the central banks want people to go out to the risk curve. that's what the qe stuff is all about. >> you mentioned this is the real economy, too, if the fed's real put off, are we really ready to do a seamless handing o

joining us now is bob dahl, chief equity strategist at asset management, a man who needs no introductionn't think, on "squawk box," good morning, bob. >> how are you, joe? >> i'm fine. do you -- in the past, you have said nobody rings a bell. you talked about being cautiously optimistic. where are you right now, bob, after watching everything in the last six months, watching the pull back, did that correction satisfy you if you wanted 10%? that do it for you? >> the s&p came so, so close. every average got there, well more than half the stocks down 10%. we had a 10% correction. hard to deny that, joe. look, i think that was signaling the volatility's not going to stay as well as we've seen in our career. volatility's headed back to normal as the feds start headed back to normal. i think the trend is up. it's going to be a bumpier ride than the last several years with 20/20 hindsight. >> bob, you liked health care for a long time, haven't you? >> i have. still my favorite defensive group. >> you see that times piece yesterday? that was rich, wasn't it? >> yes. >> the president and the guy