Sagging markets make this the time for investors to formulate more realistic long-term investment goals rather than shoot for the moon, according to participants at this week's Franklin Templeton fund manager roundtable forum held in Silicon Valley.
Earlier this week, several Franklin Templeton fund managers met with a small group of press and analysts in connection with the firm's grand opening of its sprawling new San Mateo, California headquarters. Despite recent setbacks in the market, the Franklin fund managers say they remain generally upbeat about the prospects for the market over the long-term, and at least a few carefully selected equities over the short term.
The current downturn has created what Franklin money managers say are some attractive individual stock buying opportunities. Although some of Franklin's managers see signs of what they call a "stealth bull market" in the making, they quickly add, however, that investors should not expect anything like the returns they enjoyed during the late 1990's, at least not for the foreseeable future.
"The bubble we experienced over the last few years is very likely to be something we never experience again in our lifetimes," says Ian Link, portfolio manager of the $34 million dollar Franklin Technology Fund {FTCAX}. "But there are lots of opportunities getting washed over with all the other bad news."
Link notes that last year spending on information technology accounted for 51 percent of all capital spending, up from roughly 5 percent in 1960. I think we're going to see that trend continue over the next ten to twenty years," he says. "You don't get that kind of growth rate in any other industry
Earlier this week, several Franklin Templeton fund managers met with a small group of press and analysts in connection with the firm's grand opening of its sprawling new San Mateo, California headquarters. Despite recent setbacks in the market, the Franklin fund managers say they remain generally upbeat about the prospects for the market over the long-term, and at least a few carefully selected equities over the short term.
The current downturn has created what Franklin money managers say are some attractive individual stock buying opportunities. Although some of Franklin's managers see signs of what they call a "stealth bull market" in the making, they quickly add, however, that investors should not expect anything like the returns they enjoyed during the late 1990's, at least not for the foreseeable future.
"The bubble we experienced over the last few years is very likely to be something we never experience again in our lifetimes," says Ian Link, portfolio manager of the $34 million dollar Franklin Technology Fund {FTCAX}. "But there are lots of opportunities getting washed over with all the other bad news."
Link notes that last year spending on information technology accounted for 51 percent of all capital spending, up from roughly 5 percent in 1960. I think we're going to see that trend continue over the next ten to twenty years," he says. "You don't get that kind of growth rate in any other industry
