larry cantor, the head of research at barclays.report has been put out, what, every year since 1956? >> it has, yes. the longest-running publication. >> a long, long, long-term view of the markets right now. >> exactly. this is our opportunity to step back, rather than the usual shelf life of a week or so, and do something that actually should be out there for a couple of years. >> do you like the u.s. equities long term then? >> actually, the research we did, the first piece looked at the equity risk premium. so in other words, equity yields have been way higher than treasury yields. historically wide. and a lot of people have been interpreted this means equities are cheap. what we come out and say, actually the valuation of equities looks pretty fair. now, this is long term, not over the next year or two. >> over the next ten years? >> five years. it's fairly priced. you should get returns in line with the historical returns. so it's a decent investment. the reason the equity risk premiums are so high is bonds are so incredibly e

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