Mr. Kleintop predicts that the U.S. economy will emerge from the recession in the second half of 2009. He also expects the economy to experience a deflationary period earlier in the year, leading to the return of inflation toward its end.
JEFFREY KLEINTOP
Market strategist
LPL Financial
Boston
Assets under management:
$254 billion
Forecast:
Mr. Kleintop predicts that the U.S. economy will emerge from the recession in the second half of 2009. He also expects the economy to experience a deflationary period earlier in the year, leading to the return of inflation toward its end.
"The current level of volatility will continue, and it will subside once the economic data begins to trough," Mr. Kleintop said.
The stock market will end the year posting percentage gains in the mid-teens. Meanwhile, he expects the bond market to record percentage increases in the mid- to high single digits.
The 2009 finish line:
The Dow: 10,000
The Nasdaq: 1,725
The S&P 500: 1,000
Tip sheet:
Favorite investment: PowerShares S&P 500 (PBP).
Favorite sector: Consumer discretionary.
Next big thing: The burst of the cash bubble.
Biggest concern: Mr. Kleintop is concerned about heightened geopolitical unrest in areas such as Russia, India, Pakistan and Afghanistan. He is also concerned that lower energy prices will hurt the economy of Mexico.
Reading, watching, listening to:
Book: "The Guns of August" by Barbara W. Tuchman (Random House Inc., 1962).
Primary news source: CNBC.