Nov 11, 2009

Ken Fisher: 1,300 on the S&P 500

It’s just a reversal of excessive pessimism. We still have a lot more bull market to go because we had such a huge bear market.

The economy is not recovering at a slow pace. America is faster than people think. Third-quarter GDP numbers knocked the socks off of expectations.

~ Ken Fisher, "Billionaire Fisher Sees S&P 500 Above 1,300 as Economy Recovers," Bloomberg.com, November 10, 2009

(Ken Fisher predicted the S&P 500 would reach 1,300. It closed at 1,093.08 on the day of the interview with Bloomberg.)

1 comment:

Mattheus von Guttenberg said...

Could this be because of government spending? Cash for Clunkers, expanded unemployment benefits, hitting rock-bottom interest rates..

This GDP swell is illusory. It is not the result of a resilient US economy, but the government battleship firing all its guns and saying "See how well we're doing?"

Doug French explains more fully here: http://mises.org/daily/3843