A 'Melt-Up' in Stocks by End of 2011: Morgan Stanley Exec
By the end of 2011 stocks will be "substantially higher," and "a melt-up is coming,” Shelley Bergman, managing director and portfolio manager of Morgan Stanley Smith Barney, told CNBC on Wednesday.
"Money should be put to work in equities," Bergman said.
Many "yield-starved investors" are putting their money to work in the "wrong areas," he said. This is not the time to be "venturing in and buying yield investments. That was last year—that game’s over," he said.
The key reason that Baby Boomerscontinue to remain fearful about investing, according to Bergman, is the amount of negative information out there right now.
It will be "lack of bad news" that will ultimately draw investors back into the markets, the Morgan Stanley exec concluded.
Programming note: "The Strategy Session," hosted by David Faber and Gary Kaminsky, airs weekdays at Noon ET on CNBC.