Brian Rogers: Anything Can Happen in the Short Term
Brian Rogers believes confidence has come back big time in the markets. However, with the huge 25+% move we have seen so far, anything can happen.
Talking to Bloomberg TV this mornings, the T-Rowe Price Chairman and Chief Investment Officer believes confidence on the resurgence of the US economy is at its highest level since the crisis has begun. However, that is not to say that he knows for sure whether this bullishness is set to continue. He believes investor hesitation this morning signals that an upward move is still highly dependent on the continuation of good news on the economic front. Roger sees markets having a huge stake on Friday's market report, which may make or break sentiment.
On whether he has been a buyer on Apple, the darling of the stock market of late, Rogers said he is perhaps one of the very few remaining out there not invested in stock. Value funds in general, of which he manages one for his company, have tended to stay out of growth--and expensive--stories such as Apple. That said, he told Bloomberg the company he heads--specifically, its growth fund--has been a big winner with AAPL.
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