M&A volumes set to be record-breaking in 2011

ON NORTH AMERICA

PSigma's James Abate believes M&A volume will boom as companies search for top-line growth.

Fund management can be a humbling business and broad stock market calls are even harder than individual stock picks in most times. We feel the pressure more acutely this year after our bullish predictions for a 20%-plus return year from the market for 2009 and a mid-teen return for 2010. Making it harder is the fact we are “changing horses” for 2011. Our bullish thesis for 2009 and 2010 was based on our belief investors were underestimating the profit margin improvements as the benefits from the swiftest and deepest corporate restructuring witnessed during our careers were just starting ...