It's the Bears vs. the Bulls, but this playing field is economic prognostication. AdvisorOne presents a slide show of some of the noted economic optimists and pessimists. Last week we let the Bears run wild, this week the Bulls get their turn.
KEN FISHER
CEO, Fisher Investments Inc.
The billionaire investor says the biggest U.S. companies will lead global stocks in 2011, even as returns diminish after a 21-month bull market.
Fisher, who is known for making bold, often contrarian predictions, told Bloomberg Television in January that “America will do better than the rest of the world. People will move away from small cap and emerging markets and more toward boring things that evidence quality.”
The Standard & Poor’s 500 Index has risen 93% from its March 2009 low and companies reported better-than-estimated earnings. The MSCI Emerging Markets Index advanced 134%, while the Russell 2000 Index of small companies rallied 130% during that period.
“I do not think the bull market is over, but I expect this year to be frustrating for almost everyone,” Fisher said. “This is a year where returns are likely to be disappointing to bulls and bears alike.”
Stampede! Well, sort of.
It's the Bears vs. the Bulls, but this playing field is economic prognostication. AdvisorOne presents a slide show of some of the noted economic pessimists and optimists. Last week we let the Bears run wild, this week the Bulls get their turn.
DAVID KELLY
Chief Market Strategist of J.P. Morgan Funds
Kelly hosted a call on March 2 to address rising oil prices and political turmoil in the Middle East.
"Oil makes everyone very nervous," Kelly began. Four of the major recessions since the 1970s have been preceded by spikes in oil prices, he said.
Oil is not inflationary in the United States, Kelly said, though it is in developing markets. In the United States, however, oil is deflationary because proceeds flow out of the country instead of to American producers.
There have been encouraging signs in the job market, Kelly (right) told callers. "If not for oil, you'd say the economy was moving up again," Kelly said.
The bottom line, he said, is to be overweight equities and underweight fixed income; and, of course, keep watching the price of oil.
Just to help prevent oil from derailing the economy, I'm buying a Nissan Leaf.
It's the Bears vs. the Bulls, but this playing field is economic prognostication. AdvisorOne presents a slide show of some of the noted economic pessimists and optimists. Last week we let the Bears run wild, this week the Bulls get their turn.
LEWIS J. ALTFEST, Ph.D.
CEO, CIO and a Principal Advisor for Altfest Personal Wealth Management
In a story in March's Investment Advisor magazine, Altfest said: