So, they’re going to need equities.”Furthermore, Chiavarone says bull markets typically last 15 to 20 years, and, by his calculations, this one hasn’t even topped 5 years yet.“The risk is not being in this market,” says Chiavarone, who helps run the Federated Global Allocation Fund FSTBX.The firm’s current price target is for 2,750 on the S&P SPX, by the end of next year and 3,0.“We are probably frankly low on both of them,” he said. “They won’t make enough money to pay down their debt, fund their life and fund retirement where there is no pension. “Millennials are entering the workforce, but their wages are going to be under pressure their whole career,” he explained to CNBC’s “Trading Nation” on Friday. ![]() In a recent interview with CNBC, Chiavarone says there’s at least a decade left in this rally due to a demographic tailwind that’s soon to hit.
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