CNBC Europe's Closing Bell did a feature on Merrill Lynch's European Investment Manager Survey of expectations for 2005.
The results were not very specific, at least they weren't presented very specifically in the piece. Equities should outperform bonds. The dollar is expected to decline further and US equities are expected to lag other world markets.
The contrarian in me wonders if the survey will be wrong. By now we all know what the threats to the US markets are; the dollar, deficit, slowing economy, slowing earnings, oil, and so on. At this point I don't think a great 2005 is in the cards for the US market but I will address this closer to the end of the year.
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1 comments:
Speaking of being a contrarian, am I the only one noticing that it seems like EVERYONE is predicting a strong finish to 2004, but is skeptical or concerned about 2005?
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