Tags: Siegel | Stocks | Soar | Jeremy

Professor Siegel: Stocks Poised to Soar 15 Percent

Thursday, 13 May 2010 02:03 PM

Equities have room for more upside, said University of Pennsylvania's Wharton School finance professor Jeremy Siegel.

Stocks could gain by another 10 percent to 15 percent by the end of 2010, he says. “We’ve got further to go.”

Siegel credits the “extraordinarily strong” earnings from corporations and economic growth throughout the world.

He is bullish for both the short term and intermediate term, especially for the United States and Asia, the author told BloombergTV.

The sovereign debt issues of Greece and Italy will not impact stocks in America or Asia, Siegel said.

He is doubtful the euro zone will remain intact, especially since the peripheral countries have continued to experience devaluation.

Siegel is confident that the U.S. economy is in a “self sustaining recovery” and says the lack of federal bailouts will not result in a double dip recession.

With the recession receding, companies have become more active in acquiring companies, Bloomberg reported.

“The economy is showing improvement. And we continue to see mergers,” said Peter Jankovskis, who helps manage about $1.8 billion as co-chief investment officer at Oakbrook Investments in Lisle, Ill.
"Also Warren Buffett’s comments on Goldman Sachs show that he’s doing a very responsible thing by not piling on prejudging the situation."

The recovery appears to be gaining some momentum, according to Bloomberg.

“The recovery is getting traction. Earnings and cash look quite strong. As that cash gets redeployed, that’s generally positive for the equity market. M&A appears to be picking up nicely,” said Tim Evnin, equity portfolio manager at Evercore Wealth Management, which has $1.7 billion under management.

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Equities have room for more upside, said University of Pennsylvania's Wharton School finance professor Jeremy Siegel. Stocks could gain by another 10 percent to 15 percent by the end of 2010, he says. We ve got further to go. Siegel credits the extraordinarily strong ...
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2010-03-13
Thursday, 13 May 2010 02:03 PM
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