Norman Levine, managing director, Portfolio Management Corp.
FOCUS: North American Large Caps
Market outlook:
This is being written just prior to the Greek referendum but the outlook remains largely the same regardless of the results of the vote. Stocks have generally been weak of late, due to the uncertainty over Greece and bonds have been strong as investors seek safety.
We look forward to further declines in equity prices and this is hopefully the market correction we have been expecting and eagerly awaiting.
We have cash to spend and are convinced that global equity growth will not be hurt in the long term by the problems in Greece so we are awaiting better valuations in order to invest our cash.
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