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Hugh Johnson Says S&P Was 6% Overvalued

Hugh Johnson, chairman and chief investment officer at Hugh Johnson Advisors, discusses the earnings season and the emerging market crisis. He see the market experiencing a cyclical correction in a secular bull market. Johnson is looking for further decline of 7 percent for the S&P 500 to bring it to a 10 percent drop from the peak. Johnson speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage." http://www.bloomberg.com/podcasts/hays-advantage/

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