Tags: Kass | S&P | record | high

Doug Kass: S&P 500 Poised to Soar in 2012

Wednesday, 28 Dec 2011 08:07 AM

The S&P 500 broad index of stocks may approach near-record highs in 2012, possibly breaking 1,525, says Doug Kass, president of Seabreeze Partners and normally known for bearish views.

"I think the S&P will eclipse the early 2000 high of around 1,525 — in the beginning I think the market is range bound but by late spring and early summer I think we see (bullish) catalysts move the market," says Kass, who accurately predicted the 2011 stock market to swing wildly but end up largely unchanged, CNBC reports.

The index is currently at around 1,265.
_________________________________________________________

Sick and Tired of Playing Retirement Roulette?

Fleeced by uncontrollable inflation, taxes, and dire unemployment, millions are being forced to dangerously gamble their life savings in the . . . Learn More About How You Can Protect Your Life Savings, Click Here.

_________________________________________________________

While the European debt crisis may be rattling nerves, investors have already priced in worst-case scenarios into their trading strategies.

"Stock markets don’t go down when we know about the problems," Kass says. "Stock markets go down when we’re blindsided."

wallstreetbullap200v1.jpg
(Associated Press photo)
Furthermore, the Occupy Wall Street movement may actually force politicians to push through pro-growth strategies, which would be bullish for stocks.

"Americans are angry at the inertia — and our populace is going to force politicians to make moves on pro-growth fiscal policies," Kass says, adding the country can expect to see former Presidents Clinton and Bush being asked to engage lawmakers to end political bickering over economic policy and find policies that will kick-start more robust economic growth.

The S&P 500 recently jumped into positive territory for the year in recent days.

Investors cite firming data in the labor market and improving consumer sentiment figures for the increase.

"This is supportive of the fact that the economy is gaining momentum and that the fourth quarter will be much better than people were expecting even just a month ago," says Jim McDonald, chief investment strategist at Chicago-based Northern Trust Global Investments, according to Reuters.

© 2017 Newsmax Finance. All rights reserved.

 
1Like our page
2Share
StreetTalk
The S P 500 broad index of stocks may approach near-record highs in 2012, possibly breaking 1,525, says Doug Kass, president of Seabreeze Partners and normally known for bearish views. I think the S P will eclipse the early 2000 high of around 1,525 in the beginning I...
Kass,S&P,record,high
1768
2011-07-28
Wednesday, 28 Dec 2011 08:07 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved