Markets continue to defy the odds by reaching new highs nearly every week. Some skeptics are saying this bull market can’t last much longer.
Seth Masters is not one of those skeptics; the chief investment officer at Bernstein Global Wealth Management joined The Daily Ticker to defend his prediction that the Dow (^DJI) will break 20,000 by late 2018.
In May, Masters joined the program to explain why he thought the Dow would reach the 20k mark by 2020. Now he believes it will happen two years earlier and notes that markets could hit that important threshold by the end of 2014.
“The fundamentals underpinning the valuations of stocks today are quite strong,” he says. “The reason why we’re ahead of where we originally expected to be is because the economy approved a little more than we expected and also because P/E ratios have normalized more quickly than we thought.”
This is not just a bubble, says Masters. Comparing today'sRead More »from Dow 20,000: Coming Sooner Than Expected, Seth Masters Says