The Big Money Poll

I always look forward to the weekend and sitting down with a copy of Barron’s to get a summary of the past week on Wall Street.  This week the issue was replete with great information not the least of which was another bearish column by Alan Abelson.  Indeed, I tried to remember if in all the years that I have been reading Abelson if he ever has written a bullish column.  If any of my readers remember one please let me know.  In the same issue however, was a feature called the Big Money Poll in which big institutional investors were polled relative to their feelings about the future trend of the stock market.  This poll revealed that more than half of the institutional portfolio managers that were surveyed were bullish or very bullish concerning the prospects for stock prices through the end of 2008.  More than 55% of poll participants think the market is undervalued, while just 10% thought it was overvalued.  Moreover, 87% if the money managers who participated in the survey expect to be net buyers in the next three to six months.  I hope they’re right!!

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