Events Rattle Markets and Managers

Article Excerpt

Uncertainty over interest rates, oil prices and the Mideast situation has hurt world equity markets in the past few months. However, we feel that this is a temporary setback, and not the start of a protracted bear market. These three investment firms earn much of their income based on the value of the securities they manage. Consequently, the recent downturn has hurt their short-term earnings growth and stock prices. Our view is that their earnings will probably rebound with the markets, particularly as we get closer to the two-year period before the next Presidential election. In the meantime, we see them as worthwhile holds. AMERIPRISE FINANCIAL INC. $44 (New York symbol AMP; Conservative Growth Portfolio, Finance sector; WSSF Rating: Average) provides financial planning, brokerage and insurance services to over 2.7 million clients through a network of roughly 12,370 advisors. It currently owns, administers or manages assets worth $428 billion. The company was a wholly owned subsidiary of American Express Co. (see page 75) prior…

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