However, he thinks most people will ignore the downgrade's implications, and expects to see the market "move higher a little bit more from here before the third-greatest of all bounces ends finally."
Christopher Hobart, CEO of Hobart Financial Group, said S&P's downgrade "obviously...makes you think we’ve got to make some changes," although he didn't go into detail. "We’ve been anticipating a lot of this happening," he said.
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Disclosure information was not available for Mike Rubino, Christopher Hobart or their companies.