several CEOs of large investment banks on Wall Street have stated that investors should be prepared for a possible correction of over 10% in the stock market in the next 12 to 24 months, and emphasized that such a pullback may not necessarily be a bad thing. Mike Gitlin, President and CEO of Capital Group, pointed out that corporate profits are still strong, but "valuation is the current challenge." Morgan Stanley CEO Ted Pick and Goldman Sachs CEO Solomon also expressed similar views, believing that a significant correction may occur in the future, and that such a decline is a common phenomenon in market cycles. Solomon mentioned that the valuations of tech stocks are already quite full, but the overall market is not the same.
