U.S. Money Managers Turn Cautious
Money managers have reined in their optimism since the fall, but they see bargains in Europe, energy, tech.
April 25, 2015
America’s money managers have developed a fear of heights. Doctors might call it acrophobia, but investors call it a logical response to a stock market that has more than doubled in the past six years, and now sits just below an all-time high. This widespread wariness is evident in Barron’s latest Big Money poll, in which a record 50% of respondents categorize themselves as neutral about the market’s prospects through year end. That’s the highest neutral reading since the spring of 2005, when 40% were sitting on the fence, and a sharp increase from last fall’s 31%.