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New York Stock Exchange, September 18, 2012: the day FedEx shares fell far harder than the rest of the market, tumbling 3.1 per cent.
New York Stock Exchange, September 18, 2012: the day FedEx shares fell far harder than the rest of the market, tumbling 3.1 per cent.
(BRENDAN MCDERMID/REUTERS)

Are U.S. money managers much too rosy?

With the euro zone barely trudging along, Japan joining the intervention parade and China cooling, U.S. investors have good reason to be confident about their ranking in the hierarchy of economic powerhouses.

But at what point does confidence turn into blind optimism? And have they crossed it?

Alain Bokobza, the Paris-based head strategist for Société Générale, just spent a week meeting with big name U.S. money managers at both hedge funds and traditional wealth management shops. His takeaway: Americans have very rosy expectations.