What is Professor Optimistic's reason for thinking the market is going to keep heading straight up?
Siegel notes that there are $3 trillion in bond funds and $11 trillion in savings accounts currently earnings zero percent. There doesn't have to be a large percentage of that cash move towards stocks to keep sending the market higher.
He thinks that the Dow at 16,000 to 17,000 by the end of this year and that the Dow at 18,000 in 2014 is a good bet.
Unrelated, I called Warren Buffett and he still thinks it is foolish to make short-term predictions on where the market is going to be. That is a joke, I didn't call him (but that is what he would say).
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