Former Value Line Research Director Sam Eisenstadt, who has a solid track record of market forecasting, thinks stocks will gain more than 8% by the end of August, with the S&P 500 nearly eclipsing all-time highs, according to MarketWatch’s Mark Hulbert.
“Prior to his retirement in late 2009, Eisenstadt had spent 63 years at [Value Line],” Hulbert notes. “At the time of his retirement, its flagship publication, the Value Line Investment Survey, was in first place for risk-adjusted performance over the three decades the Hulbert Financial Digest had been tracking advisory performance.”
Eisenstadt has continued forecasting the market after his retirement, continuing “to update and refine a complex econometric model that forecasts where the market will be in six months’ time,” Hulbert writes. “The inputs to his model are monthly readings of numerous economic and financial variables over the last six decades — back to 1952, in fact.” Hulbert says that while Eisenstadt’s forecasts have “by no means … always been on target, they have been good enough to justify our paying attention to what his model is forecasting now.”