Two views on U.S. stocks

Looking back: Dan Wiener of the Independent Adviser for Vanguard Investors tells clients that, since the start of 2000, the S&P 500 index has been flat, and investors in Malvern-based Vanguard Group's Index 500 fund "would have seen your account drop" in the past eight and a half years.
  By contrast, Vanguard energy, mining, real estate, foreign and health sector funds rose 10% or more/year, and Vanguard's stock-and-bond Wellington Fund averaged 7.7%, Wiener wrote.
  "Why were so many Vanguard investors pouring billions of dollars into the index each month? I blame a large part of the mess they are in today on the relentless pitches coming from Jack Bogle, Vanguard's founder, and others at Vanguard that one should simply 'set it and forget it,' buying an index fund and leaving the driving to the markets," Wiener added.
  Meanwhile, in Berwyn, chairman Bob Turner of $26 billion Turner Investment Partners is urging clients to buy U.S. stocks.  "For the first time in this decade, we believe the U.S. stock market is primed to outperform the global stock market in the near term." 
  How? "U.S. stocks' valuations are about as good as any in the world, most U.S. companies are well-managed and cash-rich, the U.S. economy is close to a bottom, foreign economies are starting to soften, and foreign investors have an opportunity to make money two ways on U.S stocks, from capital gains and a stronger dollar."
  Turner's picks include Wal-Mart, Google, McDonald's, Coca-Cola, PepsiCo, Procter & Gamble, Goldman Sachs, Charles Schwab, Baxter Int'l, Gilead Sciences, Monsanto, Mosaic, Applied Materials, Deere, Caterpillar, Microsoft, IBM, General Electric, Cisco Systems, Qualcomm.