By  on January 11, 2010

This was the consensus of participants last week at the annual forecast luncheon of the New York Society of Security Analysts entitled “Market Forecast: Return to Prosperity or False Dawn?” Vinny Catalano, president and global investment strategist at Blue Marble Research, moderated the event.

David Malpass, president of Encima Global and former chief economist at Bear Stearns, predicted gross domestic product growth of 3 percent for 2010, but stopped short of concluding that a “V-shaped” recovery is in the works. Such a vigorous bounceback would typically call for 6 percent GDP growth, he said.

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