‘I Haven’t Been Bullish Enough’: Veteran Strategist Ed Yardeni Outlines Resilience of the Equities Market
Vocal inventory market bull Ed Yardeni says even he hasn’t been bullish sufficient.
The president of Yardeni Analysis notes in a brand new CNBC interview that the present market feels just like the “roaring 2020s.”
In a earlier interview earlier this month, Yardeni raised his year-end goal for the S&P 500 to eight,250. When requested on Monday whether or not he was contemplating elevating that concentrate on once more, the veteran strategist sounded an optimistic tune.
“I’ve been among the many bulls and I haven’t been bullish sufficient. I imply it’s actually extraordinary. We’ve been in what I name not a FOMO market however a FEMO market, that means ‘Fabulous Earnings Momentum.’ Earnings have been unbelievably sturdy.”
Yardeni says he’d slightly have an earnings-driven melt-up than a valuation-driven melt-up. He additionally outlines the resilience of the market regardless of geopolitical headwinds.
“That’s been considered one of our theses, is that you just simply don’t wish to ignore and underestimate the resilience of the US economic system and the US shopper, and I feel plenty of that’s due to me and other people like me, which is plenty of Child Boomers. I’m nonetheless working for a residing, however the Child Boomers are retiring with $89 trillion in internet price. We’re speaking about superior numbers.”
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