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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (55836)	10/26/2002 3:14:08 PM
From: stockman_scott	Respond to of 65232

Barron's poll: Hopes for recovery Survey of money managers finds optimism, caution By Ted Griffith, CBS.MarketWatch.com Last Update: 2:27 PM ET Oct. 26, 2002 NEW YORK (CBS.MW) -- A substantial number of money managers are optimistic about the outlook for the major stock market indexes, predicting double-digit gains next year, according to a survey published in Barron's. Barron's said 43 percent of money managers polled classify themselves as "bullish" or "very bullish." Nearly 30 percent of managers were "neutral" while 27 percent classified themselves as "bearish." Barron's said the poll drew responses from 131 investment managers from across the United States. The major stock market indexes have been in a downward spiral for two years. But Barron's said optimistic money managers believe the tide will soon turn because of a "looming increase in corporate profits and a sudden abundance of bargains." Managers with a bullish outlook see gains of roughly 10 to 13 percent in 2003 for the major market indexes -- the Dow Jones Industrial Average ($INDU: news, chart, profile), the S&P 500 ($SPX: news, chart, profile) and the Nasdaq Composite ($COMPQ: news, chart, profile) --the financial weekly reported. A number of money managers cited pharmaceutical stocks, including Bristol-Myers Squibb (BMY: news, chart, profile), Pfizer (PFE: news, chart, profile) and Johnson & Johnson (JNJ: news, chart, profile), as among their current top picks. Conglomerate General Electric (GE: news, chart, profile), which sells everything from aircraft engines to light bulbs to medical devices, was named by nearly 7 percent of managers as their favorite stock. But GE also made the list of most "overvalued stocks," joined by Fannie Mae (FNM: news, chart, profile), Krispy Kreme (KKD: news, chart, profile) and Microsoft (MSFT: news, chart, profile). The Barron's poll also showed that a number of managers still see plenty of reasons to be concerned about the outlook for stocks. The story said, "Big Money pros are overwhelmingly concerned about a 'double-dip,' or second recession." And many of the managers surveyed believe it will take two-to-three years for the technology and telecommunications sectors to achieve "sustainable growth rates." Ted Griffith is a reporter for CBS.MarketWatch.com