(FORTUNE Magazine) – STEVEN LEUTHOLD, 48,a Minneapolis financial adviser, on the stock market's January gyrations: ''You have to realize we're in Looney Tunes land, and you should stay fairly close to the exits.''

PAUL G. KIRK JR., 49, chairman of the Democratic National Committee, on his party's search for a 1988 convention site: ''I just can't understand why the Republicans won't allow New Orleans to compete for both conventions. All they have to do is take down the donkey and put up the elephant.''

DEAN KLECKNER, 54, president of the American Farm Bureau Federation, on prospects of changes in farm legislation this year: ''When all is said and done, more may be said than done.''