In a webinar with clients on Thursday, Lee highlighted three key factors that could serve as fuel for the stock market to climb higher throughout the rest of the year, potentially driving 22% upside to his year-endThose factors include"broken" inflation, a record amount of cash on the sidelines, and a surge in bearish sentiment among most investors.
"I think that in the 30 years I've been covering markets the one observation I'd make is that the market seems more prone to panic today than it has in the past. I think it's been amplified by the pandemic, but the SVB collapse has triggered another wave of panic," Lee explained.
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