Notoriously bullish Wharton professor Jeremy Siegel told CNBC Monday morning stocks remain firmly in bull territory.
His comment comes in context of last week’s sell-off and fears over market direction.
Siegel stated that “perhaps” we are in the beginning of a correction, but ultimately he believes that “the bull market is not over”.
He added that if this is indeed a correction, then it will be a “great buying opportunity for investors”.
He stated during the interview:
“I still think the big bull is taking control of this market; I don’t think it’s going to give up. Surely there might be a correction — we always have corrections in a bull market. I actually don’t think this is going to be one of them, but if it does happen, I think it’s going to be a great buying opportunity for investors.”
Additionally, he said:
“Remember when I was on of May 2013 just after the panic when Bernanke mentioned maybe we’re going to start the tapering, and I said, “If you look at history, the bull markets do not end when the Fed starts raising interest rates. Bull markets could go on for another 9 months to 2 years.””
Last month, Siegel expressed another bullish sentiment: that the Dow is “going to get to 18 [thousand] and above”, even suggesting that it might hit 19,000, or even 20,000.
Here’s the entire interview from CNBC:
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