While there have been reports of portfolio managers easing back into stocks, one-third of them are still sitting on record amounts of cash, SmartMoney reports.
Until the housing market stabilizes and corporate earnings become strong, they say, they are not convinced the market will deliver consistently strong returns, even though the S&P 500 has risen some 40% since its March 9 low.
Im not sure its so far away, but I dont think weve seen the bottom yet, said Nick Kaiser, a portfolio manager with the
Dave Ellison, manager of large-cap and small-cap financial services funds at