The numbers are stunning: The Dow is up 16 percent and the broader S&P 500 is 15 percent higher so far this year. They are at record highs and on track to set more milestones.
Stocks continued their climb on Tuesday after a well-respected hedge fund manager made bullish comments about the outlook for stocks. David Tepper, founder and president of Appaloosa Management, said in an interview he’s “overwhelming bullish.”
His reasons: The economy, autos, housing are all doing better. And contrary to most market analysts, he believes stocks could keep rallying as the Federal Reserve tapers off its massive bond-buying program. He said policymakers will find a “natural” way to ease out of those purchases that will encourage investors to keep pouring money into the markets.
By his calculations there is still $400 billion of cash trying to find a home in various investments.
Are you holding onto your cash? Are you feeling bullish? What worries you? What encourages you?
Tyler and I will be talking about this on NBR Tuesday night. But we also want to hear from you. So share with us your market outlook.
