Renowned "big bull" and professor of finance at Wharton School of Business Jeremy Seigel was on CNBC to discuss his outlook for stocks going forward. Jeremy is also the author of book "Stocks for the Long Run". He thinks the Dow can soar another 1,000 points from here once the U.S. elections are out of the way. He believes:
-- Election uncertainty is capping stock gains at this point.
-- There is room for stocks to soar once the uncertainty related to election is gone and there is agreement on the fiscal cliff.
-- He would like to see extension of current policies related to taxes and capital spending for six to nine months for the rally to continue.
-- Housing will be a driver of the U.S. economy in 2013.
Credit and source: www.cnbc.com, CNBC
Here is the video:
About the author:
Dheeraj GroverI am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne