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How to invest in time of turmoil.
/The job of a sell-side analyst is to have a market forecast, says Inigo Fraser Jenkins, the outspoken portfolio strategist at Bernstein Research. But given the unprecedented collapse in growth expectations, accompanied by central bank interventions and the slump in asset prices, most strategists find themselves unable to price major benchmarks like the S&P 500 index. Still, he says, a strategist can provide a framework for looking at the market and probable future returns. He even says it could be time to buy stocks, if you have a two-year horizon./