While the US stock market continues to struggle as a result of various institutional and political forces, Jeremy Siegel, professor of Finance at the University of Pennsylvanias Wharton School of Business, remains optimistic about the state of the market in 2019.
Speaking in an interview on CNBCs Squawk on the Street, Siegel predicted that equity markets in the United States would have a good year, rising in the range of 5 to 15 percent.
We went from a rosy view to now, Oh my God, theres going to be a recession. The truth will be somewhere in between, and that leaves the stock market very attractive now.
Using the current valuations levels, he said that even if there is no growth in earnings this year, the current realities make it a cheap market. He acknowledged that a recession could drag the already-battered markets a bit, but he maintained that this wasnt going to happen.
CCN |
https://www.ccn.com/stock-market-will-have-good-year-in-2019-wharton-finance-prof/I believe that there will be a recession for sure during 2019. The global economy overperformed in 2018 with not an exact specific reason. Asia moves the trend but in other places around the world, there are still huge problems that push these countries behind. The real impact on the global rates are not yet illustrated and I think this will happen with a significant downturn in 2019.
Hopefully, people will turn to cryptocurrencies in order to store the value of their assets.