16,000 on the Dow Seems Doable, Says Gamco's Howard Ward

by Jake L'Ecuyer, Benzinga Staff Writer
March 6, 2013 1:55 PM | 1 min read | Make a Comment
Loading...
Loading...
Howard Ward, the growth equities CIO for Gamco Investors was the guest host on SquawkBox this morning, and laid down some macro market wisdom throughout the show. Here are some highlights:
Thoughts on the Record Dow Highs:

  • Stocks will continue to provide the best returns;

  • We don't know where interest rates would be if the fed wasn't buying everything that they are.

Some Market Predictions:

  • 1650 as a target on the S&P is possible based on reasonable earnings multiples;

  • 9 months from now stock market will be focused on 2014 earnings, if that number is 120-150 dollars on the S&P, then 1650 on the S&P will be low;

  • 16,000 on the Dow seems very doable within a few years.

Breakdown of Portfolios Across the US:

  • The average individual household has 35% in stocks, allocations are too low to fund retirements;

  • Stocks will be the asset class of choice going forward, but there will be corrections along the way.

The Last Word:

  • Likes where things are going;

  • Fire sale is coming;

  • No need to chase the market, it will continue to rise.

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Posted In: EconomicsMarkets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!