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The reasons for the recent weakness are not hard to identify.
Many are still privately held, but even accounting for the recent weakness in technology shares, Arnault's bankers estimate Arnault's technologyholdings to be worth $2.5 billion to $3.5 billion.
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Doubts about how well Macugen will sell account for some of the recent weakness in Eyetech's stock.
"Quantitatively, outsourcing abroad simply cannot account for much of the recent weakness in the U.S. labor market," he told an audience at Duke University's Fuqua School of Business.
"Outsourcing abroad," he said, "simply cannot account for much of the recent weakness in the U.S. labor market and does not appear likely to be an important restraint to further recovery in employment".
Temporary factors, including the damping effect of higher food and energy prices on consumer purchasing power and spending as well as supply chain disruptions associated with the tragic events in Japan, appear to account for only some of the recent weakness in economic activity.
Consumer spending accounts for about 70percentt of the U.S. economy, magnifying the impact of the recent weakness.
And much of the recent weakness will not last.
Temporary factors, like the Midwest drought, are behind much of the recent weakness.
Much of the recent weakness in output growth is thanks to the fall in building activity.
This may help to explain some of the recent weakness in investment, particularly in rich countries.
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