Outlook For Stocks Looking Up in 2013Submitted by Castlebar Asset Management on December 11th, 2012
The CFA Institute released their annual Global Market Sentiment Survey this week. It surveyed 7,000 CFA Charterholders around the world and the verdict is they are more optimistic about stocks in 2013. 50% felt that stocks are going to be the best performing asset class. This was an increase from 41% last year. The Wall Street Journal highlighted that street analysts are expecting a 9.1% gain for the S&P 500 in 2013. On the flip side, cash is the least preferred with 4% of those surveyed saying it is their favorite asset class. That dropped 9% from the 2012 survey.
The group expects that global economies will continue to grow next year. 40% of the respondents felt there would be growth next year with only 20% expecting a contraction. These like the other data points indicate that the group was more optimistic than last year.
I participated in this survey and thought its results show a balanced market opinion.