Since its March 10 low of 666, the S&P 500 has rallied more than 20%. Pundits and media commentators alike have taken this to mean that the bear market is over and that stocks should once again be the primary asset class for investors.
The bullish bias has taken professional money managers as well.
Barron's "Big Money Poll" (a survey of 100 money managers nationwide) produced an overwhelmingly bullish skew: 60% of respondents were either bullish or extremely bullish about stocks for 2009. All told, 66% expect to put more money to work in equities within 12 months.
Lest you start believing these guys know what they're talking about, let's consider their collective track record for the financial crisis thus far: (more)
No comments:
Post a Comment