Over the next few months, there will be a lot of focus on the ongoing effects of the credit crisis and regulatory reform. "At the same time, we want to continue to focus on the core investor protections issues."
"A big transition will be [occurring] in the international marketplace," said Mr. Schreiner, who manages money using probability-based measures and technical tools, and also uses outside managers who employ quantitative strategies.
All signs point toward a brighter 2009, according to Mr. Richardson, with one caveat. "It's almost too easy to predict the stock market is going up in 2009," he said. "Of course, I'm assuming the success of the government's efforts."
Although Mr. Regan isn't optimistic about the economy, he does foresee a strong year for wealth management companies who cater to high-net-worth investors.
The markets will probably rebound in 2009, but it's not a sure thing, Mr. Molumphy said. An "extended or protracted" economic recession could delay a market recovery until 2010, he said.
The best part about the year ahead will be that it will only last 12 months, Mr. Malkiel said.
Mr. Slott is convinced that taxes will go up in 2009 and believes that advisers should work with eligible clients to help convert individual retirement accounts to Roth IRAs.
Commercial real estate is heading into its worst year since the industry's crash of 1991-92 and likely won't see a significant rebound until 2011 at the earliest, according to industry experts.
By some measures, 2008 was one of the darkest periods in the history of the hedge fund industry.
The country is about to enter "an era of sustainability" that will affect both the economy and the financial markets.
