Capsule: Christopher J. Molumphy, Franklin Templeton Investments

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.
JAN 04, 2009
By  Bloomberg
CHRISTOPHER J. MOLUMPHY Executive vice president and chief investment officer for fixed income Franklin Templeton Investments San Mateo, Calif. Assets under management: $404.6 billion General outlook: 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. Still, "we feel that the fixed-income markets are poised for a fairly strong rebound," Mr. Molumphy said. Municipal bonds are especially attractive: They're cheap, despite the fact they "represent an asset class which is of extremely high quality, and fairly low risk," he said. Next big trend: Deleveraging will continue. Biggest concern: That the current recession ends up being deeper than anticipated. Reading, watching, listening to: Book: "Hot, Flat, and Crowded: Why We Need a Green Revolution and How It Can Renew America" by Thomas L. Friedman (Farrar Straus & Giroux, 2008). Newspaper: The Wall Street Journal. TV: PBS. Website: bloomberg.com

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave