Il primo lo conosciamo: e' tra il consumatore USA e la realta' economica. Oggi su thestreet.com ho letto questo di interessante... Today's Market: Money Managers See the U, but Buy the V By Justin Lahart Associate Editor 8/10/01 12:56 PM ET "If you look at what's done well, it's groups like semiconductors and consumer cyclicals -- basically groups that need a pretty good recovery in revenue growth to work," says Cliggott. >>> la parte interessante That's a sign that there's something of a mind/body disconnect among many institutional investors: Managers may say they don't believe earnings will recover quickly, but the way stocks have been moving suggests their portfolios think differently. And privately, some managers -- particularly in the growth arena -- concede as much. >>> anche meglio "The response is, 'You have to understand I was overweight tech last year and I underperformed,' " says Cliggott. "'If I am underweight tech this year and I underperform, I'm not going to have a portfolio next year.' " "I'm not going to have a portfolio next year" O la va o la spacca...