That is Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School of Business, during CNBC’s “Squawk Box” segment on Friday, expressing nearly unfettered optimism about the path forward for the U.S. stock market, despite a historically bad jobs report.
Although the government didn’t keep records back then, economic historians estimate unemployment peaked at 25% in 1933. Read: Will the stock market tumble back to its coronavirus lows in March? About 92 years of S&P 500 history says there’s a good chance In fact, the Wharton professor envisions equity markets rising well into 2021 as treatments and vaccines for the COVID-19 disease are discovered.
Guess, the Prof. is right 👍🏻🤓
Why are people so focused on market lows? The secret is just buy when markets go down. Why do people get scared to buy when markets are down ? If one day they all go to 0 what does it matter we are all screwed anyways. Its just a game roll the dice and enjoy the ride.
When the economy reopens and all the landlords start demanding rent or banks demand mortgage payments, car payments and car insurance payments but too many people are jobless, the lows of March on Wall Street will be the last seen in more ways than one can imagine.
..maybe. But not yet seen real, big, unstoppable structural bankruptcies & as yet unseen white collar layoffs that follow - airlines, rental car, hotel, T&E companies & all their feeder companies. The Fed/gov cannot sustain the whole US economy. The vaccine is the game changer...
You were probably saying this before the recent stock market retreat in March ... we have had one black swan event and there are plenty more lurking just waiting to fly in ... keep your seatbelt on would be my advice!
Can't fight the fed
Mostly disagree but it is not out of scope to recognize also other opinions
i do not think the lows are in
Depends on how much of a deficit the Fed, other Central banks, and the major governments are willing to run. The markets are powered by public money now, the economy was in trouble before Covid.
Wishful thinking there will e another leg down to test March lows
Out of his fkn mind.
He's right!
Dow is about to 30 k in the end of the month. That what he said in mid Feb 😂
Like you guys he is a permabullshitting charlatan
Pump
He is totally wrong. But he *has* to say that to keep the illusion alive.
After Bernanke, does anyone actually believe ANY economic or financial prognostication that comes from a college Professor?
For people unfamiliar with Siegel, here he is in DEC 2007 dismissing the mortgage crisis & recommending financial stocks. An engineer with this record would lose their license. Siegel? He's lauded as a savant. Finance in this country is a fraud.
He’s got a 50% chance of being right or wrong. I’ll just flip a coin it’s more scientific.
I dunno this guy used to be my prof and he seemed pretty smart then...🤓
I think he wishes he had a larger cash position
Further proof that technical analysis is pointless. Trend-lines? Who cares, just pump the market.
Neither. He and other Wall Street insiders are hoping we buy and prop up stocks while they sell. Other more honest Wall Street investors have actually come out and said they are out of the market.
I'd like to see what data he is basing his hypothesis on. We are all in uncharted waters right now. Predictions made in the eye of the storm usually get crushed pretty quickly, like we saw in 2000 and 2008. It's ok to say that we have no idea, because we really don't.
He is right. The 3/23 low was caused by liquidity problem, which has since been mitigated by Fed’s response. Doesn’t mean the stock market will not go lower from today though. People are much better at analyzing why he said that than what he said.
Drive Shack $DS will go to the moon in the next 12 months. Huge growth potential stockstowatch - currently priced at $1.25 - target of $5-7 🚀 🌝
Unfortunately the lows have been seen. In my opinion ATH is more likely than a 10% correction from these levels
We are listening Professor
Prof Siegel predicted a crash if Trump won Only reason he gets time on CNBC is because his ETF company, Wisdom Tree buys Ad time 😘
2021 is going to be a balancing year and not boom year. 2021 when individual numbers r added =5 . This number 5 is most sought number and balances every plane of life. Whosoever have number 5 in their DOB , May know it , if they deeply delve in it , as per numerology
FRO Sméagol
If Trump wins then yes.
'Boom' ok, great choice
It all depends on whether the now politically sensitive stock buybacks can restart at the same pace as preCovid. Otherwise the excess liquidity will just sit with corporates. In that case, IMHO the bottom will come only after the Fed announces it will buy stocks ala-BOJ.
2021 might be a good year. But if the state openings don't go well 2020 could still be bad.
Guarantee Monday the stock market will be up or down guaranteed 🤡🤡🤡
Anyone who says never is a damn fool.
Young grasshoppers, time it will take for currency to work through system. Q2 will start to show true impact. And look good it my not.
He's right. When the Fed announced they would support the high-yield market, they've essentially promised they won't let any of the big corporations go bankrupt. With that out of the question, it's difficult to imagine new lows.
just because this guy was right once (on housing crisis) doesnt mean hes right all the time. and even if he turns out to be right, his prediction is at best a 50-50 chance. no need to act on these idiots advices.
Of course! He is absolutely right. As ever he was.
He’s not supposed to be right but Powell already said in an interview that the FEDS are going to help the market every chance it needs it so us regular people who are waiting for a good buying opportunity are screwd
Lots of people on this thread must have sold at the bottom.
The first rule about the market is don't talk about the market
Delusional
This guy is as right as Alan Greenspan was. Go invest in the hot soup. Stop worrying over things like historic unemployment. The Federal Reserve only pledged to buy bonds in an unlimited quantity. It's not like they're just printing money. That can't hurt anything, right?
Psssst. Liquidity != sales or profits. If consumers are worse off, it doesn’t matter how much liquidity the Fed pumped into businesses. Future earnings are going to eat dirt. “2021 boom” 🤣😂🤣😂
He’s from Wharton. He says what the White House tells him. If Buffett & Cooperman can’t figure it out, then why does this guy think that he’s special?
The market is betting on the FED to buy equities, no rate cut and more UST buying, i.e. flatter yield curve, FED here to stay, and this self induced growth collapse is all in the hands of the government, front loading prospect of business as usual...
He said lows in bonds not stocks
Yeah, everything's so great. There's absolutely no reason for pessimism.
This must be where trump gets his information. He hears something he likes as repeats it
The psychology and numbers don't back it. The bottom will be worse than the March lows and it is coming in Q3
Definitely right
Of course, he's right! He Usually is! TINA
Q2/Q3 earnings have been effectively written off by the market. It’s not like you are going to sell one asset for another as they are broadly all affected the same in each sector. It’s more about Q4 and 2021 so yes, the lows are well and truly in
Wrong! Companies are reporting Q1 earnings nowadays. Wait to see main impacted months which are Q2 and huge downsize on stocks expected!
“The market can stay irrational longer than you can stay solvent” just quoting...
He might be right about the market. But if he is, I don't want to own it. Also: he's wrong about the market.
DieForTheDow You go first!
Wishful thinking. The market is underestimating how long it will take for the virus to play out
Good luck
Excuse me? 4 months ago you would never believed the entire economy would come to a standstill. Guess what? Such idiots. Trust no one.
I don't know about the lows but the market is at the same point as summer last year right now. There is no way that makes sense. There is definitely more downside risk then upside.
Never say never professor....
Wrong
Why are people so confused? The next stock market bubble will the greatest in history money has nowhere to go except into stocks. The fools that sold out down 35% will be rushing to get back in at all time highs. Simple logic small businesses destroyed. Wallstreet wins. The end
When the second quarter data rolls in and the stock market finally is relative to the economy, get ready for an earthquake crash making March lows seem incredible.
I wish smart people would stop trying to predict unpredictable things like the stock market. Warren Buffett has never tried to do such a thing because it cannot be done with any degree of accuracy and consistency. It both undermines credibility and is a source of misinformation.
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