Balanced
Equity
Market Neutral
Micro Cap
Small Cap
Mid Cap
Fixed Income
Economic Outlook 2010 - Recommendations
Economy | Stocks | International | Interest Rates | Recommendations
For Business Executives For Investors
  Expect:
Recommendation Credit to remain tight
Recommendation Government to impose more hurdles
Recommendation Consumers to remain frugal
Recommendation Elevated level of business failures
Recommendation Strong recovery unlikely

  Advice:
Recommendation Take advantage of cheap dollar
Recommendation Lock in today's rates but keep debt levels low
Recommendation Seek ways to add value
Recommendation Upgrade talent but don't overhire
Recommendation Start new enterprises to take advantage of business cycle

  Pockets of strength:
Recommendation Exports
Recommendation Public construction
Recommendation Regulatory Services
Recommendation Environmental services
  Stocks:
Recommendation Avoid buy and hold, active research needed
Recommendation Be defensive, buy bargains
Recommendation Favor dividend paying stocks
Recommendation Seek the following:
  • Lightly regulated
  • Government favorites
  • High sales overseas
  • Basic material
  • Technology
Recommendation In rallies favor small cap stocks

  Bonds:
Recommendation Avoid low quality
Recommendation Favor TIPS, high quality GO municipal bonds
Recommendation Use active management: Good opportunities in short run
Recommendation Expect problems in the long run

  International:
Recommendation Diversify stocks among cheapest/strongest economies
Recommendation Favor: Chile, Peru, China, India
Recommendation Avoid: Australia, Taiwan, Brazil
Recommendation Seek high quality sovereign bonds

  Important Considerations:
Recommendation A healthy position in gold and silver
Recommendation Non-correlating styles such as Market Neutral, Balanced
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