Why investors should prepare for ‘more euphoria and pessimism'

US

Grant Bughman, client portfolio manager of the UBS US Growth fund, on his outlook for the American economy and why he is especially bullish on technology stocks.

What is your view on the current state of the US economy? Over the past three years, since the beginning of the recovery from the financial crisis in early 2009, investor expectations for the trajectory of US economic growth has ebbed and flowed between euphoria and pessimism. As recently as this past October, pessimism abounded as the consensus held that the US was likely to fall into recession by year-end. Fourth quarter GDP, and early indications for Q1 2012, have however indicated that this is not the case. The recent improvement in many economic data points; notably the continue...