This decade looks like it will be the worst ever for stocks, but Robert Froehlich, senior managing director at The Hartford, he expects 13,000 on the Dow by the end of 2010. How should investors prepare their portfolios?
“There’s always a way to make money in all segments of markets and I think we’re well-positioned for the next year,” Froehlich told CNBC.
Next year, Froehlich said he expects companies to start rebuilding inventories, the consumers will slowly start to return, and the global growth story will continue.
“I see this as an earnings-driven recovery,” he said. “The economy will continue to recover, and each quarter will look better.”
However, Froehlich warned that inflation is coming and said he is “scared to death” of bonds.
“That’s the next bubble waiting to happen,” he said. “So get into stocks.”
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No immediate information was available for Froehlich or his firm.