Fool me three times, shame on me
World stocks are up 22 percent since March 9 and a sell-off earlier this week was unable to break the trend.
“Like the old saying ‘Fool me once, shame on you, fool me three times, shame on me’, we think it’s OK to investors to be cautious, but not dismissive… We believe there is a good chance that we saw the low for this bear market in early March,” says Sam Stovall, chief investment strategist from the S&P Equity Research, in the Investment Policy Committee note.
The Comittee’s end-2009 targets are: 850 for the S&P 500 index and 675 for MSCI emerging market index.
(Reuters photo: Robert Galbraith)