Two years after protesters camped out in lower Manhattan for the Occupy Wall Street movement, it could be argued that very little has changed. In fact, the S&P 500 is within one percent of its record high amidst a backdrop of mixed and largely uninspiring economic data.
You bet it does, says Russ Koesterich, chief investment strategist at Blackrock, in the attached video.
"In some ways we're still in the same environment we've been in since 2010," he says, pointing to an economy that's getting better at a very slow pace, an uneven recovery, and consumers who are still struggling with a little too much debt and weak income growth.
It's a scenario he thinks will lead to higher volatility going forward, as well as broken hearts if you're invested in the wrong place.
"We expect the economy to improve but I wouldn't base an investment thesis on the economy going back to 3% or 3.5% growth any time soon," he says.Read More »from It’s 2010 All Over Again, Avoid Stocks Linked to U.S. Consumption: Koesterich