BlackRock's Bob Doll said stock prices need to rise and bond prices need to fall before American investors will buy US stocks again.
US stocks ended the day firmly lower on Thursday, after the ISM services sector purchasing managers´ index for the month of April disappointed.
Investors in Warren Buffett's firm Berkshire Hathaway may have been left disappointed with returns over the past three years as the company has underperformed the S&P 500 by more than 25%.
Despite its roots across the Atlantic, Franklin Templeton is best known in the UK as an emerging markets specialist and, since its acquisition of Rensburg, for its UK equity capabilities.
US markets gained some ground this afternoon ahead of consumer confidence and home sales data, following a sell-off in Europe yesterday.
Shareholders in investment bank Citigroup - which failed a recent stress test - have aired their discontent with the financial giant by voting against giving top executives a larger pay packet.