"I think it will be a little bit bumpy for the economy and the markets for the first few months of the year, but then we will gain some traction," Mr. Glovsky said. He thinks the second half of 2009 will be strong.
ROBERT GLOVSKY
President
Mintz Levin Financial Advisors LLC
Boston
Assets under management:
$850 million
Forecast:
"I think it will be a little bit bumpy for the economy and the markets for the first few months of the year, but then we will gain some traction," Mr. Glovsky said. He thinks the second half of 2009 will be strong.
"Right now, the new administration seems to be well-poised to do some decisive action that will help the economy. President-elect Barack Obama has surrounded himself with excellent people. I also think that will help consumer confidence tremendously," Mr. Glovsky said.
The 2009 finish line:
Dow: 10,000
Nasdaq: 1600
S&P 500: 950
Tip sheet:
Favorite fund: Dodge & Cox Stock Fund (DODGX).
Favorite sector: Energy.
Next big thing: A major federal stimulus package. "I would have a concern if Congress underdoes it. And they should enact it as soon as possible, because it will take time to kick in," Mr. Glovsky said.
Biggest concern: Investor panic. "My concern is that people are going to sit in cash and be afraid to go back into the market. That would be OK if they can live on less and work much longer before retiring. They need to understand there are trade-offs."
Reading, watching, listening to:
Book: "Team of Rivals" by Doris Kearns Goodwin (Simon & Schuster, 2006).
Newspapers: The Wall Street Journal, The New York Times.
TV: "This Week With George Stephanopolous" and "Meet the Press."