Jeremy Siegel Explains What Will Drive The Dow To 17,000

Jeremy Siegel

Photo: Bloomberg TV

Wharton professor and perma-bull Jeremy Siegel has previously projected th the DOW could go to 15,000 at the end of 2013.He also said there DOW 17,000 is very attainable.

During an interview with CNBC Siegel reiterated that call. He also explained what could get stocks to that level despite the risk to American companies from the global slowdown:

“There’s no question that 40 – 45 per cent of S&P profits come from global non-U.S. sales. We can’t stand alone from the global market. But we don’t need a lot of growth of earnings to actually have the stock market do well.

It’s going to be multiple expansion that is going to be the most potent source of the bull market, not necessarily those earnings growth.”

Siegel also said that he thinks housing is going to be the driver of the U.S. economy in 2013 and that it could add a point, or event a point and half to GDP.

Don’t Miss: Bill Gross Goes Unleashed, Blasts Jeremy Siegel For Living In An Ivory Tower And Lacking Common Sense >

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