Steven Leuthold Sees Psychology Driving S&P 500 to 1,350 Next Year

By on October 4, 2009

Steven Leuthold, according to Bloomberg, has had good success managing money. Leuthold predicts the S&P 500 will end the year around 1,200 and reach 1,350 next year, but a return to the 2007 all-time high of near 1,565 could take as long as five years.

Leuthold indicated he wasn’t concerned about the recent slump in equities, saying it would be premature to take defensive action.

Leuthold stated, “We think there’s going to be a lot more activity in terms of acquisitions.” He added, “The large tech companies are loaded with cash and willing to diversify in other areas.” Leuthold has overweighted technology in his equity fund.

Source:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aT2Dzy3ZlRbI
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