Jeremy Siegel was on Kudlow’s show last night.
He starts around the 3:40 mark.
Here are key points:
- There’s a 50/50 shot of the Dow going to 17,000 next year.
- There’s a 2/3 likelihood of Dow 15,000.
- Stocks are cheaper than at any time since the 1950s.
- Stocks are ridiculously cheap compared to bonds.
- We don’t need profit growth at these valuation levels. Profit growth would just be a bonus.
- In 2000, we were starting at a 30 PE ratio. It’s not surprising that the next decade was bad.
- When you start at a 13 PE ratio, the future is much, much brighter.
- When yous tart there, you never have had bad returns from that starting point in history.
Here’s the video:
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