Jeremy Siegel: European Stocks Look Cheap
On CNBC this morning, Wharton professor and author of Stocks for the Long Run, Jeremy Siegel said fears of other major EU countries leaving were overblown. Siegel added that those countries using the Euro currency were very unlikely to exit the union.
Regarding equity valuations, Seigel stated that European stocks were reasonably priced at 12.5 times earnings; compelling in a low interest rate environment. Over a 3-5 year time horizon Siegel expects European stocks to outperform U.S. stocks.
Back in March 2014, Siegel was correctly bullish on the prospects for stocks (link).
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