Pullback Represents "Huge Buying Opportunity": Steve Leuthold

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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.

Source: Businessweek
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