Wall Street financial guru Leon Cooperman (Leon Cooperman) believes on Friday (6th) that the bull market in US stocks will not come soon, and the possibility of the S&P 500 index rising above 4,400 points this year is only 5%.
After suffering its worst year since 2008, the S&P 500 fell 19.4% last year, and the Nasdaq lost a third of its market value. uptrend.
Guberman, a well-known American hedge fund manager and known as the “King of Stock Picking”, judged that the financial market has bid farewell to the wave of speculation.
Quoting Genesis 41, Guberman adds: “Like a pharaoh I had a dream, and Joseph interpreted it, and the dream was after seven years of plenty, we will have Seven bad years, so I think anyone looking for a new bull market in the short term is wrong.”
“SPACS[special purpose acquisition companies]cryptocurrencies, the wave of options deals, crazy valuations on fangs, everything is in for a sharp reversal in 2022,” Guberman explained.
“We’ve spent a lot of time driving demand and we have to address that, the labor market is very tight with 1.7 vacancies for every job seeker, and that’s a challenge for corporate profits,” he said.
He sees a 50% chance of the S&P remaining in the 3,600-4,400 range in 2023, a 5% chance of breaking above 4,400 and a 45% chance of falling below 3,000.
Guberman noted that this will depend on whether the Fed tries to achieve its long-term inflation target of 2%, rather than holding steady between 3% and 4%.
