Manning & Napier just published their quarterly update. "An understanding of these current GDP realities drives Manning & Napier’s outlook for slow growth ahead, but we must recognize that swings in sentiment will probably occur around that viewpoint, creating opportunities to buy pessimism and sell optimism.'
'Importantly, the economy faces many challenges and uncertainties that could change the course of growth or contribute to large shifts in expectations. For instance, year-over-year earnings comparisons are set to become more difficult in the second half of 2010, the health of the banks and their lending operations remain fragile, and the outcome of financial regulation is unclear. The keys to navigating this type of uncertainty and changing expectations are to remain focused on reality and to be prepared to actively take advantage of shifts in expectations that will create opportunities."
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'Importantly, the economy faces many challenges and uncertainties that could change the course of growth or contribute to large shifts in expectations. For instance, year-over-year earnings comparisons are set to become more difficult in the second half of 2010, the health of the banks and their lending operations remain fragile, and the outcome of financial regulation is unclear. The keys to navigating this type of uncertainty and changing expectations are to remain focused on reality and to be prepared to actively take advantage of shifts in expectations that will create opportunities."
Read the complete commentary
