Ron Baron on CNBC Says Dow Could Hit 60,000

Earlier on Tuesday, Ron Baron, founder of Baron Capital Group appeared on CNBC. Baron gave his outlook for stocks over the longer-term, continuing to emphasize the importance of buy-and-hold investing. “I think over the long-term stock market will grow 7% per year,” Baron said. “Right now people are saying 14,000; is it too late? It's not too late...In 10 years [the Dow] is going to 30,000, in 20 years it's going to 50- or 60,000...so I don't really think about 14,000 to 15,000, 15,000 to 16,000; I think about stocks being a great hedge against inflation.” Baron's fund has seen great success in the 30 years since it's been founded. Baron follows a similar investment style to famed investor Warren Buffett, buying companies and holding them over very long periods of time.