Stocks May Tumble 10%, But Hang In There, $141 Billion Fund Says
Citigroup's Wieting Says It's Going to Stay Volatile for a While
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Equity investors are in for a further stomach-churning down-draft, but it will pay off to stay the course, according to AMP Capital Investors Ltd.
“It’s likely the pullback has further to go as investors adjust to more Fed tightening than currently assumed,” said Shane Oliver, Sydney-based global investment strategist at AMP Capital, which oversees about A$179 billion ($141 billion). “The pullback is likely to be just an overdue correction, with say a 10 percent or so fall, rather than a severe bear market.”