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At Least One Investment-Management Firm Believes that the U.S. Economy May Grow by Three Percent during 2012


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(OPEN):
CAN THE U-S ECONOMY ACHIEVE THREE-PERCENT ECONOMIC-GROWTH, THIS YEAR?  AT LEAST ONE INVESTMENT-MANAGEMENT FIRM BELIEVES THE ANSWER TO BE "YES".  PATRICK BOYLE IS THE SENIOR PORTFOLIO-MANAGER AT BERNSTEIN GLOBAL WEALTH MANAGEMENT'S REGIONAL-OFFICE IN WASHINGTON, D-C...

(BOYLE):
"
THE CONSENSUS-VIEW IS THAT THE U-S ECONOMY WILL GROW BY A LITTLE-BIT MORE THAN TWO-PERCENT, THIS YEAR.  HOWEVER, OUR VIEW IS THAT IT SHOULD DO BETTER:  OUR 2012 GROWTH-ESTIMATE IS ACTUALLY THREE-PERCENT.  WE ALSO BELIEVE THAT--FOR LONG-TERM INVESTORS--STOCKS ARE UNDERVALUED:  THE 'PRICE-TO-EARNINGS RATIO' IS CURRENTLY ABOUT 13; IT'S USUALLY HIGHER--PARTICULARLY WHEN INTEREST-RATES ARE AS LOW AS THEY ARE TODAY.  WE DO EXPECT CONTINUED-VOLATILITY IN THE MARKETS--WHICH IS WHY OUR BALANCED-PORTFOLIOS ARE UNDERWEIGHT-STOCKS, RIGHT NOW.  HOWEVER, IF THAT CHANGES, THE UPSIDE-RESULTS COULD BE SIGNIFICANT."

(CLOSE):
THE FIRM MANAGES MORE THAN 70-BILLION DOLLARS, FOR THOUSANDS OF HIGH-NET-WORTH FAMILIES, INDIVIDUALS, AND FOUNDATIONS, THROUGHOUT THE U-S.  SOME TWO-THOUSAND OF ITS CLIENTS ARE IN THE DISTRICT, MARYLAND, AND VIRGINIA.  FOR MORE INFORMATION, VISIT "BERNSTEIN"-DOT-COM.



Copyright 2012 North American Network, Inc.

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