"This could be a really tough year, but 2021, '22 onward, there's no reason not to say we're going to snap back from this. We always have," Siegel said.
Siegel said that he did not believe there would be a recession in the United States due to the outbreak, and that in the worst case-scenario earnings could fall by as much as 30%. He said this did not pose "systemic" problems like in the financial crisis.Stocks have fallen far enough that they are now at a reasonable value, and investors sitting on the sidelines should start to buy in, he said.
"If you've got some cash now, time to put it to work. Don't get nervous if it comes down another five or 10%," Siegel said. Siegel also reiterated his call for the Federal Reserve to cut interest rates to help manage the markets during the coronavirus epidemic. "I think the Fed should act again. Let's make some room there for easing on the financial side," Siegel said.
recession has started but for how long! I give it a year and half to readjust! I had tweeted to realDonaldTrump last night the DowJones would hit 24,700 today! I tweeted couple days ago to him that it would hit down to 25,600 and it did!
jersiegel and he thinks equities are cheap? WTF planet does he live on?
He has no idea what’s going to happen. Quant trading has underperformed the market significantly the past two years & their algorithms analyze past data better than any human can. He has no information that can possibly justify knowing how the next 10 months will work out...
jersiegel how long has jeremy been bought by 'interests'? thankfully he is at wharton - they can have him ;-)
PbuzzXr let me lose 30% in months and keep investing in a product that would take several years to re-gain.
Crystal ball projections about a potential medical pandemic from an economics 'expert' are really pretty stupid. Do better CNBC.
when did he become a health expert? I thought he taught finance.
The markets are controlled by Algos and not humans. I agree with him and think that buying here is smart as this will resolve at some point
He's obviously one of the 38 % who think you get the coronavirus from drinking Corona beer.
Most cases are asymptomatic, means it’s less severe than the flu
carlquintanilla barked, 'Release the Siegel' Bald headed clown then barked nonsense at us. Exactly what we didn't need.
Or not. You have no idea.
Someone take this guy out back and shoot him.
BeerPongMB
Why is it that all these Wharton duds go lalala in times like these vs true insight to how the market works and why? Let me guess cause they have 1st mover advantage in the market, good ol Wharton networking (FYI Trump is part of it). Terrible.
Boy all those share buybacks companies have made to try to make EPS look better sure look stupid right now.
Crystal ball theory.
Childish and obvious rhetorical expressions. Ask the kindergarten for the level.
He wears glasses so probably doesn’t see very well.
It’s all a hoax folks, better odds of dying from flu, plane crash, car crash, hit buy bus, even winning lottery than dying from coronavirus, this is just another WS financial terrorism attack on your $ by the white collar Taliban on fake fear and media fomenting lies..
More fake crap.
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