Jeremy Siegel, the Wharton professor credited for calling the Dow to reach 20,000 in 2015, predicted that the market could be in for a solid gain in the coming year based on three factors.
Siegel explained that the tremendous amount of liquidity from the Federal Reserve and government has been a powerful catalyst for M1 money supply, which is up 44% since the beginning of March, which represents an increase not seen since World War II. M1 money supply is one measure of supply that tracks currency in circulation plus demand deposits in checking accounts.
With the “world of interest rates [are] at record lows, you can’t beat stocks as an asset,” the professor told the business network.
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