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Follow on Google News | James Anderson still loves stocks: 'You're nowhere near an overheated market'Anderson has not changed his position since the latest leg up in the market.
By: Mircon Western Digital Alibaba Facebook Alphabet "Comparing current levels to previous overheated markets is utterly ridiculous," Anderson's comments follow the latest Bank of America Merrill Lynch Survey reporting a historic high on the consensus that the financial markets are overvalued. Anderson expects stocks to do nothing other than push further into record territory, "I believe this cycle has further to go still and the stock market is going to go up with that," he said. U.S. equities haven't dropped more than 20 percent from recent highs since March 2009, marking the second-longest bull market in history! While the market could appear expensive by a conventional measure, Anderson stands by his belief that the state of the global economy is supporting a higher multiple. "Due to the fact global growth will continue to be positive, earnings will be augmented and stocks are still relatively cheap versus interest rates," he said. Although a hike in rates would potentially be considered a danger, however that increase would have to be substantial before setting a dent in the market. The Federal Reserve has been hiking on a regular basis but is still expected to move slowly. Traders in the fund market give another rate hike this year a coin-flip's chance. More recently, Anderson has been a big buyer of tech titans including Alphabet, Alibaba and Facebook — all equities in which he has increased Pascal Grande's holding over the past quarter. In addition to those, he is also Micron and Western Digital, believing that the "market got too negative" on the companies. https://www.pascalgrande.com/ End
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