Lisa Myers, manager of the Templeton Growth Fund, told the Globe & Mail that while she is unsure whether the recent rally is a sure sign the market is turning around, she thinks there are plenty of compelling bargains, technology being one of them.
Asked whether the market is returning to prolonged health, Myers said, “There is a lot of mixed data out there. Corporations were announcing their earnings this week and last week, and they are beating expectations. Industrial production is better.”
However, she continued, “unemployment is still rising and small companies are still having difficulties getting access to credit.”
Certain the market will make a pronounced turnaround, Myers said, she is buying technology, telecommunications, healthcare, media and some financial services stocks.
