CNBC Trader Talk Blog — Pisani: Market Is Having a Very Good Year…Really! — CNBC.com Market News – CNBC
I saw Bob Pisani on CNBC today and he said something very cogent and I thought relevant. I have outperformed the S&P 500 every year since 2001. Our Fund is having a decent year but it’s been really difficult keeping up much less beating the benchmark. It’s no small wonder, most managers are struggling. Professional managers are in denial. We’re in a bull market. Why? Because interest rates have dropped to levels that make many,many stocks undervalued with the most pessimistic of growth forecasts.
Market Is Having a Very Good Year…Really! Friday, 27 Jul 2012 | 9:40 AM Bob Pisani
My asset class is out of favor, but the performance isnt bad. When I talk to friends about the stock market these days they look at me sympathetically, like I have a painful skin disease.”Must be hard for you, covering all that depressing news,” they say.Thats what I hear: painful. Hard. Depressing.”Well, it is sometimes depressing, but were having a pretty good year,” I respond. “The U.S. stock market is having one of its best years in a long time.”