Wall Street may be bracing for a U.S. debt default, but volatility (^VIX) is falling and stocks are rising thanks to a continued streak of strong corporate earnings reports, with IBM (IBM) and Morgan Stanley (MS) among the latest to beat the street. The long-term picture looks rosy for corporate America according to Brian Belski, chief investment strategist at Oppenheimer. He says, "American companies are the best positioned companies right now for the next cycle, which we believe we're on the precipice of the next great secular bull market."
Belski says right here, right now staying invested matters. "The next 10-years we want investors to be overweight stocks. Over the next three to six weeks, two to three months, we think we have a lot of consternation and volatility involved in the equity markets around the world," he says.
Despite short-term headwinds (European contagion, U.S. debt negotiations), which are arguably already priced into the market, "2012 will be a year that will be defined by job growth," says Belski. This is a welcomed notion for the 9.2% of unemployed Americans.Read More »from The Next Great Bull Market Is Coming Soon: Belski