I've Asked Our People, "why

I Think What You've Seen Them Do Recently In The Markets Is What Most Of Us Learn Doesn't Ultimately Work. But I Think Everyone Has To Figure That On Their Own.

Companies Are Returning A Lot Of Money To Shareholders Through Dividends And Buybacks. And A Lot Of People Say That's Not A Good Use Of Capital. I Think That's Normal Reallocation Of Capital.

I Advise Other Companies' Ceos, Don't Fall Into The Trap Where You Go, 'where's The Growth? Where's The Growth?' Where's The Growth?' They Feel A Tremendous Pressure To Grow. Well, Sometimes You Can't Grow. Sometimes You Don't Want To Grow. In Certain Businesses, Growth Means You Either Take On Bad Clients, Excess Risk, Or Too Much Leverage.

The "third Arrow" (of Structural Reform) Is Critically Important. Japan Has Some Of The Best Companies In The World, And If You Look At Their Technology, Their Capability, It's Extraordinary.

I Do Believe That Some Of These Regulations Made The Markets More Volatile, And It Remains To Be Seen How Bad That Can Be.