Purchase Your BlueVault Research Subscription
S&P 500 Will Continue Rising But Earnings Better Come Along for Ride, Strategist Says
After bouncing back strongly from the Brexit selloff, the S&P 500 is up over 6% so far in 2016.
Aug 1, 2016 4:13 PM EDT |Gregg Greenberg | The Street
After bouncing back strongly from the Brexit selloff, the S&P 500 is up over 6% thus far in 2016. Jimmy Lee, CEO of the Wealth Consulting Group, sees the index rising as much as 3% higher to 2,240 before the end of the year.
But if earnings do not rise to support those levels, he said the market could see a correction, and a “meaningful one” at that.
“We have not had a bear market since 2009 so I wouldn’t be surprised if we saw a shock at those levels,” said Lee. “I’d keep cash on hand to buy into this if it happens.”
Recent News
I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture. For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments. Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients. I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.
