The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, May 29, 2009|
Morningstar '09: PMs Show More Confidence
Portfolio managers are more optimistic about the prospect for stock values. That is the report from the WSJ Fund Track's Sam Mamudi, who is on the front lines at Morningstar's Investment Conference in Chicago. The growing optimism among those managing money may trickle under the wall to those preparing their companies' 2010 budgets in the coming months, loosening fund firms erstwhile tight purse strings.
Marsico's Tom Marsico, Schwab's Jeff Mortimer, Third Avenue Funds' Marty Whitman, Oakmark Funds' Bill Nygren and Weitz Funds' Wally Weitz are PMs quoted for their more positive outlook on stocks (remember, positive is a relative term at this point).
"The reset button was hit in September," Marsico told the crowd of advisors in the article's money quote. "Valuations, especially in financials, are as compelling as I've ever seen."
Meanwhile, Schwab's Mortimer contends that the bottom was set on March 9. "The market is clearly saying the worst may be behind us, though that doesn't mean good times are ahead," he said.
Printed from: MFWire.com/story.asp?s=21656
Copyright 2009, InvestmentWires, Inc.
All Rights Reserved