Managing risk with be the trend in the investment management business in 2011, said Ed Keon, managing director and portfolio manager for Prudential Financial's Quantitative Management Associates, at Prudential’s 2011 Global Economic and Retirement Outlook briefing in New York on Tuesday.
Although Keon believes the economic recovery is gaining traction in the U.S. and globally, there is much that can go wrong. “There is stuff we can’t even imagine right now, like the sovereign debt issue we couldn’t have imagined last year,” he said. “We are trying to deal with budget problems, and housing prices are still weak. We will likely overcome these things and the economy will look better next year than it does now.”