He also made an interesting point that the Dow's average annual percent gain is currently above the long-term average of 7-8%, so the market needs to fall by 40% to revert back to the mean. He also talks about Apple's ($APPL) and Intel's ($INTC) cycles as well.
(Bloomberg.com video link)
For some reason videos embedded from Bloomberg.com appear below the blog's template on iOS devices (iPhone/iPad). For me at least.