Friday, November 16, 2012

Jeremy Siegel: Dow Hits 15,000-17,000 In 2013 (CNBC)

(via CNBC)
Jeremy Siegel, Professor of Finance at Wharton, thinks "any sort of a deal that extends tax rates, even slightly higher than they are now into the future, will buy you 500 to 1,000 points on the Dow very quickly. So, yeah, I mean you know clearly it's going to be a nervous market until... But there is going to be some sort of deal, and that's going to set the market up. And then next year I think is going to exceed everyone's expectations." But, he said "if we do not get something done, I see another 5, maybe 10%" downside from here.

And here is Professor Seigel's big call: "I think we're going to definitely be over 15,000 ending 2013 on the Dow. I see a 50/50 chance, and I'm sticking with this despite this downturn in the market, 50/50 chance we will see Dow 17,000 by the end of next year." Watch the CNBC video below for the full interview.

Dow Jones Industrial Average (source: stockcharts.com)


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