History could offer a clue. A Wall Street Journal analysis of market data provided by Elroy Dimson, Paul Marsh and Mike Staunton of the London Business School suggests the central-bank intervention might indeed be a turning point for the markets: U.S. and emerging-market stocks may be poised to outperform, while European stocks could be headed for more trouble. There is enough uncertainty to warrant a healthy dollop of Treasurys and cash in investors’ portfolios as well, for safety.

“There are possible positive catalysts that could paint a constructive picture for equities in 2012,” says Lisa Shalett, chief investment officer at Bank of America Merrill Lynch Global Wealth Management. “But at the same time we’re telling people they need to keep some money in cash until there’s better visibility.”…READ MORE.