The mood at this year’s Visions, Insights & Perspectives (VIP) Conference in Dana Point, Calif., was more upbeat than last year, but there still were plenty of concerns in the air.

Investors still are voicing concerns about investment manager openness and communications, but a lot of healthy dialogue also took place, which, at least from my perch, appeared to be positive and healing.

The messages being sent from the podium also were somewhat mixed. On the one hand, the data seem to be pointing to smoother sailing ahead, as the U.S. economy continues to recover. But there are plenty of things to be concerned about. Geopolitically, turmoil appears to be just about everywhere — the continuing unrest in Egypt (Hosni Mubarak was still in power while the conference was under way); the destabilization of the Middle East resulting from the toppling of Saddam Hussein’s regime and the pending reduction in the American presence in Iraq and Afghanistan; continuing tensio