February 17, 2014

S&P500 to be down in 2014

With the global economic recovery and the bull market maturing, I don't expect stocks to rise for the sixth consecutive year. 

Rather, it remains my view that the S&P 500 will be down between 5% and 15% in 2014. P/E ratios could contract this year -- in marked contrast to the expectations of most Wall Street strategists. 

(Note: The consensus forecast is for about a 10% rise in stocks this year.)