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Goldman Sachs super positive for 2011

On 7 January, Goldman Sachs (GS) presented at the Global Opportunity Asset Allocator his assessment concerning the allocation of a depot in asset classes (asset allocation) for the new year:

• Improved ökonmischer view
  Global is a GDP growth of 4.7% in 2011 and expected 4.9% in 2012th In the U.S. growth outlook has been increased to 3.4% in 2011 and to 3.8% in 2012th Closer economic policy in China Aand put the debt crisis in Europe is causing risks and volatility, but will the strong global growth momentum, the investment performance continue to dominate.
  
• Short-term rebalancing of the risk exposure (1-3 months) ...
  is short term, the small stock increased in obesity, raw materials are downgraded to neutral returns and corporate bonds with good credit ratings to "Underweight" is set. Similarly, government bonds, underweight and with great conviction Cash. The changes reflect the improved outlook for global growth, commodity prices after their recent strong trend towards the Goldman Sachs price target and the low yields on corporate and government bonds. In the equity markets, we favor the U.S. and Japan, while Europe and Asia (excluding Japan) are underweight.
  
• ... and remain "pro-risk" in the next 6 - 12 months
  up to a horizon of 6-12 months, the allocation remains unchanged. Due to the strong earnings growth and attractive valuation, shares are at the most convincing. We are also overweighted in commodities, as the supply of scarce and Nachfrge increases. Corporate bonds are rated neutral, although moderate gains are expected. Since cash and government bonds will not bring returns until the end, we are underweight here.

The biggest counter-weight to provide the "Weekly Market Comment "by John Hussman, entitled " Illusory Prosperity "- Ludwig von Mises on Monetary Policy His conclusion ." the Market Climate for stocks continued to be wherein last week by an overvalued, overbought, overbullish, rising-yields syndrome that has historically been very hostile to stocks . " is extremely negative.

keep Personally I assessments of Morgan Stanley the most convincing, which are due to cyclical and structural resistance Aufhellunngen moderate positve.