“
‘People are woefully underinvested. There are $ 5 trillion in money market funds. So I think the markets are going up. I think they are going up much more than people think. We can stop here for a while … but I think you’ll get a rocket in the fall this year.
“
That’s Jeff Saut, chief investment strategist at Capital Wealth Planning, which offers a bullish view of the market that caught CNBC’s Joe Kernan off guard on Monday morning.
“They live in New York City. Go to the restaurants, ”Saut continued. “The restaurants are full. The restaurants in Saint Petersburg are full. The economy is much better than most economists think. “
With earnings on the verge of surprising to the upside and the economy rebounding faster than expected, he said he is looking for the S&P 500 SPX,
to break 4,000 in one year. In the last control, the broad market indicator rose more than 1% to 3,169. The Dow DJIA,
and the Nasdaq COMP,
They were also higher in Monday’s session.
“This is a secular bull market,” said Saut. “Depending on your starting point … this should have another five, six, seven years remaining and nobody believes it.”
Watch the interview:
Saut has been pushing his bullish forecast for a while now. In December, it focused on 3,600 in the S&P by the end of 2020. “The world’s central banks are printing money, and that’s all you really need to know,” he said at the time. “I think we have years on the rise.”
.
