Siegel: The Bull Has Legs

Wharton Professor and author Jeremy Siegel says he thinks the “great rotation” from bonds to stocks is “in its very infancy”. Siegel tells FOX Business Network that he thinks investors are getting fed up with earning so little on other investments, and will continue to return to stocks. He thinks that the Dow Jones Industrial Average will be in the 16,000 to 17,000 range by year-end, and that “18,000 looks to me [in] 2014 like the best bet goal.” He does see several risk factors — if oil prices were to spike or military action against North Korea were to occur, for example, his outlook would change — but he thinks the valuation picture and low-interest-rate environment bode well for stocks.

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