. >> rose: let's one area of your book i read steven bernstein washington post.he brings them right back to where he began to an unshakeable fate in free marks and typically towards market regulation and conviction that progressive taxes and social spending are to blame for slow growth, stagnant wages and exploding deficits. those who have followed his career know that it was greenspan who gave the green light to bank consolidation, greenspan who put financial deregulation, greenspan who advocated global rules that would reduce capital reserves and greenspan who blocked efforts to crack down on awe bossive sub-prime lending. but if you're looking for him to accept any responsibilities for the crises that ensued, you will be sorely disappointed. >> i suggest that people read the book and conclude themselves what they think about that. >> rose: thank you for coming. >> my pleasure. >> rose: alan greenspan. the book is called the map and the territory, risk, human nature and the future of forecasting. back in a moment. stay with us. >> i thought a lot about what was

bernstein. and our own rick santelli. good to see you, everybody. steven, let me ask you, we had a strong month. what do you expect at year end? >> i think it's going to be choppy. i might we could be flightish into the end of the year. the market is fairly valued. full valued is a loaded term. i think fairly valued right now. i think we're exposed to equities. it becomes more of an active management -- earnings are coming in kind of choppy, kind of mixed. revenue really hit and miss. i think revenue is far more important. understanding both the credit and equity side -- it's a global game. but right now it could be choppy. >> heather, you guys have been skittish about this market for a little while. here we are at all-time highs. without a 10% correction for a long time here. >> you're right. i mean, there is broad market participation across the bard it looks like in october. no one's aggressively shorting this market. or taking any profits. but as you stated, the pullbacks seem to be too mild or somewhat shallow to see some sort of buy on the dip mental