Putnam bets against US equity optimism
The firm's CIO and head of global asset allocation discusses why US stock prices have yet to factor in a recession, but could nonetheless be attractive against other developed equity markets.
Jeffrey Knight, managing director and deputy head of investments at Putnam Investments in Boston, serves as CIO for global asset allocation. He spoke with AsianInvestor about the outlook for US equities relative to other asset classes.AsianInvestor: It seems like the US equities market has rallied every time a big financial institution announces another write-down. WhatÆs going on?Jeffrey Knight: The optimism in the equity markets just never goes away. At this stage we see an opportun…
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