Citigroup's Tobias Lefkowitz Bullish on Stocks

Chief Citigroup stock market strategist, Tobias Lefkowitz was on Bloomberg TV today. Lefkowitz is bullish. His indicators are bullish.

He said that some stock market strategists who have turned bearish because cash levels have fallen from around 6% to today’s level of 3.6%, are not reading the figures correctly. Lefkowitz says that the cash levels haven’t changed much, but since the stock value of the portfolios are higher because of the market gains, cash is simply a lower percentage of the portfolios. “There is still around 7 trillion sitting in cash accounts, (money markets and other short term accounts),” Tobias Lefkowitz said.

The equity risk premium indicators are at reasonable levels because they have come down a lot from previous market highs, Lefkowitz explained.