Jun 6, 2013

Ralph Acampora: Dow 20,000, public investor "all in cash"

I see no speculation whatsoever...  People are starting to feel a little bit better.  They're willing to take a little bit more risk.  I think perhaps we're on the cusp of going from Phase 1 of disbelief to Phase 2, where we're starting to see belief and trust.  And I love it when people keep talking this market down.  And we haven't even talked about the public being all in cash and money markets and Treasuries.  Maria, this has got a long way to go.

~ Ralph Acampora, Altair Investment Solutions, as appeared on CNBC (quote starts at 2:54 on the video), May 3, 2013

(The DJIA just set a record, breaking 15,000 on May 3rd intraday.  Acampora predicted the Dow would reach 20,000 by 2017.  Keep in mind, he also predicted Dow 21,000 by 2011 on July 18, 2007 - right at the top of the credit - a blemish on his forecasting record interviewer Maria Bartiromo forgot to mention.)

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