“Dow Marches Higher on M&A, Earnings,” by Miriam Reimer, TheStreet.
“People are recognizing the underlying strength of the U.S. economy, “said Gary Flam, portfolio manager at Bel-Air Investment Advisors. “People who were underinvested in equities after the scars of 2008 and 2009 are coming back. We are beginning to see flows into equities after 18 months.”
Flam expects stocks will do well in 2011, though he conceded risks do remain.
“We are wide-eyed bulls. There definitely are risks out there with Europe, high deficits on the federal, state and local level and a still-struggling housing market.”
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