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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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(59 seconds)
-- How Will You Use This Story? --
(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.
