US fund manager Ken Fisher is predicting North American markets will have one of their best ever yea...
US fund manager Ken Fisher is predicting North American markets will have one of their best ever years in 2003.
Fisher, who runs more than $10bn for institutions and high net worth individuals, has four reasons why he believes markets are on their way up.
He said: 'Forecasters overwhelmingly expect interest rates to rise, they will not, and that will be unexpectedly good news.
'Second, central banks are printing money and the system will be awash with liquidity. Third, recessions everywhere will have had time to unwind by December and, finally, by then the Iraq situation will be long over.'
Fisher warned that average stock market years are uncommon and, just because stocks have returned around 10% a year on average, returns of 5%-15% are not normal.
'In major countries, that happens in less than 25% of all years,' Fisher said. 'Most years the market does markedly more or less.'
Fisher, a columnist for Forbes magazine, runs Fisher Investments.
For further information on his views, visit www.fisherinvestments.co.uk.
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