Five Fund Managers Who Aren’t Afraid to Buy U.S. Stocks

Lately it seems like everyone's a bear on U.S. stocks. Profits have stopped rising, the Federal Reserve's about to act and booming overseas markets are luring investors elsewhere.

Fund investors have yanked $78.8 billion from mutual and exchanged-traded stock funds this year, the most since 1993. A gauge of equity sentiment compiled by the Conference Board shows just about all the bullishness that was drummed up in 2013, when shares rose the most in almost two decades, is gone.

Who's left to buy? For one, companies themselves, on pace for a record year of announced buybacks. Beyond that, the ranks thin -- though a bull can be found here and there, even among managers who are free to send money abroad. Here are five explaining why they're not afraid of owning shares even with all the gloom.

1) David Joy -- Economic Optimist