Ronni Moas of Standpoint Research doesn't think the stock market will "go down hard," rather, it is just "overvalued."
Speaking as a guest during CNBC's edition of "Halftime Report" on Wednesday, the fund manager said that he concluded the Dow could test the 15,000 level based on his proprietary 155-variable model, which he developed over the span of five years.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
He continued that less than 10 percent of all S&P 500 companies are catching his interest. Moreover, 20 percent of all the names in the S&P 500 index are trading at less than 13 times "speculative estimates" for next year, and half of those names are "value traps."
"People that look at value as I do, we only have a few dozen names to even consider right now," Moas said.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.