Richard Steinberg Sees a 10 Percent Gain in the Stock Market Next Year
As the guest market monitor on the Nightly Business Report, Richard Steinberg of Steinberg Global Asset Management expressed bullish arguments with regards to the stock market. Steinberg sees a pickup in housing, wages and employment leading to gains of 10-12 percent in the market averages next year.
Steinberg proceeded to discuss five stocks he sees benefiting particularly from the improving economy in the coming 12 months (see video below).
Steinberg started off with DirectTV (DTV) mentioning their “great franchise,” healthy cash flow, and strong presence in Latin America.
Steinberg also made the bullish case for Wells Fargo (WFC), Berkshire Hathaway (BRKA), American International Group (AIG), and Royal Dutch Shell (RDS-B).