ETF (DENT). “I’m very fearful of the equity markets. They have risen too far, too fast, and I don’t see a strong enough economic recovery to sustain current levels,” he said.
“However, Mr. Johnson acknowledged the challenges facing any money manager in an environment such as this, when stocks represent one of the few bright spots,” Jeff Benjamin Reports From Investment News.
“As a card-carrying member of the leading-indicator club, [I understand that] higher equity prices lead many market watchers to forecast brighter days, but we don’t agree,” he said. “Instead, we believe that flat to lower revenue growth, along with stubbornly high unemployment and continued falling consumption, will eventually pull this rally under.”
“The big question, he added, is when the rally will run out of steam and start drifting back toward a range that can be supported by actual economic data,” Benjamin Reports.
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