Peter Schiff, CEO of Euro Pacific Capital, gives his reason why stocks could move higher. And, why that reason is bad for the economy.
Is the Dow Jones Industrial Average worth 16,000? How about 18,000?
According to Jeremy Siegel, that's entirely possible. Appearing on CNBC Monday, the Wharton professor of finance said:
"My data shows that the actually fair market value based on current earnings for the Dow is probably around 18,000. Now, it doesn't mean we're going to get there right pay way or we're going to get there in a straight line. Boy, we've had a long time without even a 10% correction. But I don't think this bull market is over yet. I still think there [are] good gains to come."
Here's the strange part: Peter Schiff, CEO of Euro Pacific Capital, thinks Siegel isn't far off when it comes to pricing the Dow. But, Schiff notes the difference between valuations and price. And for that reason, he believes the Dow's priceRead More »from Schiff: Siegel’s right, stocks are going higher