Stocks can catch up once inflation data starts to ease
- Thread starter blueraincap
- Start date
This is the same guy who at the time around the June lows was calling for SP YE target of 5100, revised upward from a call earlier in the year for 5000. I read he recently revised down a bit to 4800 or something. Another clueless cog in the machine.
He is permabull. I believe he called bitcoin to reach some ridicuolous number like 1 million
But here he is right about stocks rising but for the wrong reason
Fed will not hike high enough to stop inflation.
Government is not ready to stop spending
I really feel wage- price spiral getting really ugly, teachers in my area want 15% rise and ready to strike unless
Even with P/E contracting stock will start galloping rises nominally like everything else
P/Es were already high on the basis of TINA and artificially suppressed risk-free rate. If inflation stays high, yields will have to stay high as well or go higher. That will in turn put pressure on equity valuations. To get back to lower yields, inflation needs to be killed. I think the Fed understands that and that is why this might be different than 2018. I think inflation has peaked, but I don't see it dropping like a rock back to 1-2%.
I'm a permabull as well, but at this late stage in the year, a 4800 target is retarded. Where we are right now is a good target. 3700ish. Only thing that can save us now is the CPI next week combined with great Q3 earnings.
AHHAHAHA, pipe dream.
Yeah, same shit, same story. Tom Lee has ALWAYS been an ultra-bull. Totally unredeemable, even by a permabull standard.
You should become a CNBC commentator, because your nick is what these guys do. Flip-flop. They are all schizos!