http://www.buysiders.com Investidor Profissional (IP)'s blog: value investing across disciplines and around the globe Thu, 09 Sep 2010 18:49:06 +0000 en hourly 1 http://wordpress.org/?v=3.0 http://www.buysiders.com/2010/01/21/perspectives/ http://www.buysiders.com/2010/01/21/perspectives/#comments Thu, 21 Jan 2010 18:09:42 +0000 IP http://www.buysiders.com/?p=627 The investment mood is definitely optimistic, one could say even giddy. In that regard, Merrill Lynch’s January 2010 fund manager survey is a nice indication: low cash balances, increasing exposure to equities, increasing appetite for risk. Some numbers are back to pre-crisis levels. As we point out in our Q4 2009 report (English version in the works), it’s hard to expect two consecutive years of out-sized returns – especially now that we’re starting from a much higher price level – and we’re prepared for a less ideal 2010 (to say the least).

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