Salient to Investors:

Neel Kashkari at Pimco said stock-market volatility will increase by the end of the year as Congress delays reaching a resolution on extending spending and tax cuts until 2013. Kashkari sees brinkmanship like with the debt ceiling a year ago, and choppy markets up until the last second when a deal is ultimately struck.

James Morrow at Fidelity Investments said resolving the fiscal cliff would lift investor confidence in the stock market.

ICI report more than $100 billion has been pulled from equity mutual funds in 2012, while $270 billion has been added to bond funds.

Diane Jaffee at TCW Group is near-term cautious and said the stock market is pricing in no resolution to the fiscal cliff. Jaffee likes companies with bottom-up catalysts for change, for self-help regardless of the macroeconomic environment.

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