Ritenour is also concerned about Americans' lack of savings. According to data released by the Commerce Department last week, Americans increased their spending in September, which would normally be a sign of confidence. Yet at the same time, they're saving less, the Commerce Department found.
[Read: The 10 Most Popular Mutual Funds of 2012.]
"That bubble really was indicative of a massive amount of capital being squandered," Ritenour says. He believes it's going to take voluntary savings to get that capital back.
But according to Weiner, the hazy economic picture should not discourage investment. "There's always the investor that really believes things always get better," he says. "Are they ignoring the facts? There are enough good facts to say that things probably won't crash."
Still, Weiner isn't completely sold on recovery. "There are a lot of people on Wall Street who are quite bullish," he says. "They may be right, but I'm not joining the bandwagon yet."
Reader Comments (