We were pleased to find that people at West Orange, N.J.-based FS Associates Inc. were as incredulous about the results of their recent survey as we were.
In responses from 70 money managers, about half from outside the U.S., FS Associates found that more than three-fourths believed they would emerge from the market turmoil in a better competitive position than before.
Hmm zero-sum game, anyone?
Naturally, that couldnt seem to be possibly right, admitted Gregory Hazlett, an adviser to FS Associates who helped evaluate the survey results.
How to explain this? Mr. Hazlett rules out sampling error. And while you might expect a Pollyannaish outlook from Americans in the face of doom, remember that half of the respondents were from outside the U.S.
Is it blind optimism or are they not being truthful with themselves? Thats hard to determine, Mr. Hazlett said.
Another idea: People lie on surveys. Drew Carter