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The S&P 500 could easily rise 50% over the next five years. That's according to Teis Knuthsen, Saxo Private Bank's Chief Investment Officer. He says the short term cyclical developments are positive and remain supportive for the stock market. Low inflation in the US should allow for a reasonable expansion in the coming years; Teis believes we could be looking at growth of between three and five per cent per year. He also says that the stock market is not expensive and over the next five years, Teis expects earnings to grow by more than twenty per cent.
The S&P has risen by almost 15% this year after a similar increase in 2012. That's despite the considerable uncertainty surrounding both US montary policy, economic growth, earnings and profit margins. Teis says it's vital to take a long term view, despite the noise of headlines and daily peaks and troughs. Yes, there's great concern about the Federal Reserve's bond buying programme and worries about growth in China. But he says that it's sometimes useful to look towards an horizon where humanity "does not go under"!
The S&P has risen by almost 15% this year after a similar increase in 2012. That's despite the considerable uncertainty surrounding both US montary policy, economic growth, earnings and profit margins. Teis says it's vital to take a long term view, despite the noise of headlines and daily peaks and troughs. Yes, there's great concern about the Federal Reserve's bond buying programme and worries about growth in China. But he says that it's sometimes useful to look towards an horizon where humanity "does not go under"!
01:31 minutes
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