Why Stocks Will Go 'Significantly Higher': James Altucher
The market’s performance this September has belied all the pessimism from investors getting into the month. Is it time to get out of bonds and into equities? James Altucher, managing director of Formula Capital, shared his insights.
“Stocks are going to go significantly higher from here over the next year, and it all boils down to how much cash corporate America has in the bank,” Altucher told CNBC.
He said he is encouraged to see firms buying back stocks, increasing dividends and participating in M&A activities at a much faster rate than a year ago.
“We’re going to see a big reallocation from bond funds into stocks funds, because the spread is enormous and corporate CEOs are confident enough…so they’re spending the cash,” he said.
Scorecard—What He Said:
- Altucher's Previous Appearance on CNBC (Aug. 31, 2010)
Opposing Market Views:
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CNBC Data Pages:
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No immediate information was available for Altucher or his firm.