Erik Weisman, investment officer and portfolio manager at MFS Investment Management, had one question for journalists gathered at the firm’s 21st annual investment outlook: “Where’s the V?”

In recent recessions in the 1970s and 1980s, when the market has dropped sharply it has subsequently risen sharply, but not this time. “We’re likely only in the middle of a financial crisis that will be long lasting,” he said at the lunch event, “Stops, Starts and Stalls: Making Sense of the Recovery,” in New York Tuesday.

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