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A Risky World; With recovery spreading, and the markets booming, why are investors so apprehensive about where to put all this easy money?(Cover Story)
Byline: Karen Lowry Miller
Tony Dye stood his ground in the dizzy spring of 2000. Distrusting the prices of tech stocks, the Phillips & Drew investment strategist refused to buy. That April he was ushered out the door--and we all know what happened next in the markets. "There is a dangerous incentive for professional investors to stay with a bubble," says Dye, who now runs a hedge fund in London. "If you lose it all, at least you're in the same boat as everyone else, so you keep your job." He won't discuss his current holdings, but when he looks at the equity markets now, "I'm terrified," he says.
The big difference today is that everyone is a bit ...
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