Chris Beringer Quoted in Barron’s 2021 “Big Money Poll”

Indeed, the Big Money bulls expect the Dow Jones Industrial Average to rally about 6% through the middle of next year, to around 37,000. They see the S&P 500 ending this year at 4600, en route to 4812 by next June 30, for a gain of 8% before dividends. The tech-heavy Nasdaq Composite could add as much as 10%, in their view, ending next June at 16,335. And that’s despite the fact that 92% of managers call the market overvalued or fairly valued at current levels—including the 50% who think it is overvalued by more than 10%.

Even so, more than two-thirds of our respondents expect U.S. equities to return 6% to 10%, on an average annualized basis, in the coming decade. “We lean bearish for 2022 and are increasing our cash allocation,’’ says Chris Beringer, president of the Beringer Group in Mount Laurel, N.J. “But we’re pretty bullish through 2026.”

Stocks remain the place to be in a world of low interest rates: 60% of managers call equities the most attractive asset class, and 54% expect the U.S. to outperform other stock markets in the next 12 months.

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