THE PARANOID OPTIMIST
This investor is hopeful that the future outlook supports further stock gains but is mindful of what could go wrong and carries a healthy suspicion of the bulls’ justification for higher prices.
Joe Quinlan, chief market strategist at U.S. Trust, says he’s neither bull nor bear.
“I am a cardcarrying ‘Paranoid Optimist’ on the markets,” he says.
“I’m paranoid that the stock markets are getting extra rocket fuel via uber-loose global monetary policies and that the low-yielding environment has coerced investors into higheryielding equities,” Quinlan says, “but optimistic that global fiscal reflation is on the horizon, global growth is poised for a cyclical upswing and geopolitical risks like Brexit are waning or priced into equities.”