This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: So You Think Stocks Are Cheap? Just Wait By TOM SULLIVAN | MORE ARTICLES BY AUTHOR Don't jump back in yet. ARE YOU THINKING ABOUT PUTTING MONEY back into equity funds? Don't! That's the opinion of George Feiger, CEO of Contango Capital Advisors, who expects the market to have a turbulent rest of the year. "It's not a Great Depression, but it will be a longer recession than people expect...through 2009, maybe into 2010," he says. With the world economy in trouble, even the initiatives by the Treasury Department and Federal Reserve won't stave off continued hedge-fund failures, redemptions at hedge and mutual funds, and asset-dumping by lenders, says Feiger. With funds and other investors hoping to start 2009 on fresh footing, redemptions and asset sales likely will accelerate. And that means "assets are likely to become even cheaper over the next three months," Feiger says. U.S. equity mutual funds had net outflows of $25.67 billion in October, after seeing a net $46.47 billion go out the door in September, according to AMG Data Services. Those are two of the worst monthly showings since the start of the decade....
View Full Document
- Fall '09