Pullback Represents "Huge Buying Opportunity": Steve Leuthold
According Leuthold Group’s Director of Research Doug Ramsey:
“There’s no way the European debt problems are going to be enough to derail the growth that’s taking place in our economy and in Asia,” said Ramsey, who estimates the S&P 500 will rally at least 19 percent by year-end. “We’re in the camp that hasn’t revised down because of the pullback.”
The firm recently bought semiconductor stocks on speculation the shares are cheap relative to the industry’s earnings prospects.