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Leuthold’s Ramsey cited as (bullish?) by Bloomberg today

hank
edited May 9 in Other Investing
Doug Ramsey, LCORX portfolio manager, is cited today (but not quoted directly) as part of a daily market recap by Bloomberg Media. (subscription required)

“To Doug Ramsey at Leuthold, another 10% gain in the S&P 500 isn't out of the question, at least statistically. He analyzed 80 years of data on bull-market rallies, focusing on those that happened when unemployment was this low and the economic cycle this mature. If the current rally meets the prior records for length and height, the S&P 500 would end the year at 5,705.”

Sounds somewhat at odds with Leuthold’s take on the markets six months ago as capsulized by @David_Snowball in his November 2023 MFO Commentary :

”Leuthold: the lights have all turned red, time to lighten up on stocks“

Possibly Mr. Ramsey feels the lights have now turned from red to orange (proceed with caution)?

Or perhaps his reference is meant merely to reflect the irrationality of today’s market participants?

Or, more likely, Ramsey’s assessment may be intended only to characterize near term market sentiment and does not represent some fundamental change in Leuthold's longer term outlook.

Interesting nonetheless …

Comments

  • Sven
    This quarter’s earning report for S&P500 came through somewhat better than expected according to Barton’s round table discussion over the weekend. More than half exceeded and consumers continue to spend. Will see how the market reacts on this Wednesday’s CPI number.
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