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.