Market Overview

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

16,000 on the Dow Seems Doable, Says Gamco's Howard Ward
Related SPY
Vice Index: Where The US Economy Stands Going Into 2018
Central Bank Vigil: FX Steady And Going Nowhere via OANDA
If You Took On More Risk (Seeking Alpha)
Related BROAD
FOMC Statement From July 29 to July 30
Euro Hangs In The Balance As Fed Meeting Gets Underway

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.

Posted-In: Economics Markets Best of Benzinga


Related Articles (DJI + BROAD)

View Comments and Join the Discussion!

Partner Center