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Analyst who picked the US stock market low in March targets S&P above 3000 by year end

Whitney Tilson closed his hedge fund in 2017 “after years of underperformance” but did nominate the low on March 23 for US stocks.

  • “We pounded the table and said this was the best buying opportunity we’d seen since the global financial crisis”
  • “It’s been one of the fastest, biggest rallies in history.”

Tilson based his call on expecting a slowing spread of the coronavirus “which could happen as soon as a couple of weeks from now.”

His outlook now:

  • stocks won’t be revisiting the March lows soon
  • rangebound market for a few months
  • year ends solidly higher.”As clarity emerges and we start to recover, the market moves materially higher and closes the year roughly 10% higher than today,”

ForexLive

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