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Stocks rise, the dollar falls and unemployment continues to worsen. How should investors make sense of the crosscurrents and what should they do with their money? To get a sense of the market's prospects, TIME spoke with Kirk Hartman, chief investment officer at Wells Capital Management, the investment division of Wells Fargo bank, with about $370 billion under management...
What do you make of the stock market's rise and the dollar's fall? I'm optimistic on the market. I think the economy has caught a huge break with low interest rates, which are really going to make a difference. While the weaker dollar is obviously a concern, it's helping exports to remain strong. At the end of the day, though, it's low interest rates that matter more to the stock market.(See the top 10 scared stock traders...
...this rally just reflecting the government's huge stimulus? The recovery in the stock market is really a function of the fact that corporate profits continue to be pretty strong, and that's because there is low wage pressure and, overall, companies have done a pretty good job of running efficiently...
There's another point I'd mention: There's a lot of cash on the sidelines, both at the individual level and the institutional level. At some point, all this cash has got to go to work, and I think that's what you're seeing [in the market rally.](See pictures from the crash...
Heiser said administrators expected increased applications as Americans began to seek graduate school education to improve their credentials in a tougher job market...