All signs point toward a brighter 2009, according to Mr. Richardson, with one caveat. "It's almost too easy to predict the stock market is going up in 2009," he said. "Of course, I'm assuming the success of the government's efforts."
DUNCAN RICHARDSON
Chief equity officer
Eaton Vance Corp.
Boston
Assets under management:
$144 billion
Forecast:
All signs point toward a brighter 2009, according to Mr. Richardson, with one caveat. "It's almost too easy to predict the stock market is going up in 2009," he said. "Of course, I'm assuming the success of the government's efforts."
Mr. Richardson said he is pleased with what he has already seen of the incoming president, Barack Obama. "It seems like he gets it," Mr. Richardson added.
Mr. Richardson's generally bullish outlook for the financial markets does not include a rescue plan for the American auto industry, which he said will likely need to restructure on its own. One year will also not be enough to rebuild what has been lost in home equity wealth, he said.
The 2009 finish line:
The Dow: 11,040
The Nasdaq: 2,075
The S&P 500: 1,160
Tip sheet:
Favorite fund: Eaton Vance Managed Equity Fund (EROAX) and Eaton Vance Corp. (EV).
Favorite sector: Technology, especially software.
Next big thing: "After an eight-year tech wreck, growth stocks will get their groove back."
Biggest concern: A domestic terrorist attempt or a successful attack.
Reading, watching, listening to:
Book: "Wealth, War and Wisdom" by Barton M. Biggs (John Wiley & Sons Inc., 2008).
Newspapers: The New York Times, The Boston Globe, The Wall Street Journal.
TV: "The Daily Show," "The Colbert Report."
Website: dowjonesnewsplus.com.
