More than one-third of asset managers, undeterred by the credit crisis, believe that U.S. stocks are undervalued and, therefore, present a buying opportunity, according to a survey of 291 managers conducted by Russell Investments, The Wall Street Journal reports. That’s up slightly from 28% who thought so in the third-quarter “Investment Management Outlook Survey.”

More than three-quarters believe the stock market will increase in 2008, and 30% believe the numbers will come in at more than 10%. That’s down from 86% who said in the third quarter of 2006 that they thought the market would rise in 2007.

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