More than half of money managers, 57%, say the stock market is currently undervalued, according to Russell’s latest Investment Manager Outlook. Only 7% of managers feel otherwise.

“What’s interesting is that these results are from the last month in August, which was a tough time in the market with talk about a double dip. But most managers said the market was either undervalued or fairly valued, said Mark Eibel, director of client investment strategies at Russell. “They weren’t overly bullish but they were realistic and they didn’t let what was going on in the market sway their views.”

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