GO
Loading...

Street Signs: Are Markets Merely Exuberant, Or Irrationally Exuberant?

Monday, 26 Feb 2007 | 4:07 PM ET

A money manager who oversees $32 billion in assets said on CNBC's "Street Signs" that stocks are more likely to move down than up over the next several months.

"I think, realistically, we would have to assume that in the face of stronger inflationary reports and wage pressures, corporate earnings are likely to slow," said Robert Balentine, president and CEO of Wilmington Trust Investment Management.

Irrational Exuberance?
Weâ??ve gone nearly four years without a single day of losses on the S&P exceeding 2%. CNBCâ??s Erin Burnett discusses whether todayâ??s markets are just exuberant or irrationally exuberant with Robert Balentine President Wilmington Trust Investment Mgmt. CEO, and Howard Silverblatt, S&P sr. index analyst

"The old Wall Street saying is that markets can stay irrational longer than investors can stay solvent," he added.

Balentine said the Wilmington Trust has scaled back its holdings of large- and small-cap companies and is focusing on "quality issues" in the U.S. The trust has recently doubled its bets in emerging markets abroad.

Contact

  • Showtimes

    United States
    Monday - Friday 2:00P ET
    Europe
    Monday - Friday 20:00 CET
    Asia
    Tuesday - Saturday 02:00 SIN/HK
    Australia
    Tuesday - Saturday 04:00 SYD
    New Zealand
    Tuesday - Saturday 06:00 NZ
  • Brian Sullivan is co-anchor of CNBC's "Street Signs."

  • Co-anchor of CNBC's "Street Signs," Amanda Drury is based at the network's global headquarters in Englewood Cliffs, N.J.