S&P 500 might rise 15% this 12 months — however it is time to take some earnings, says investor
Merchants work earlier than the closing bell on the New York Inventory Alternate on Aug. 14, 2019 in New York Metropolis.
JOHANNES EISELE | AFP | Getty Pictures
Many inventory markets globally have continued their sturdy run into the brand new 12 months — so it is time to begin taking some earnings whereas ready for an additional alternative to reenter the markets, an investor stated on Tuesday.
“I am really beginning to consider trimming again a few of the distinctive beneficial properties we had final 12 months and coming via into this,” Simon Fentham-Fletcher, chief funding officer at Freedom Asset Administration, instructed CNBC’s “Capital Connection.”
“So from my perspective, sure, I believe it’s time to begin taking 1, 2, 3% off and … put away some money (so) that you would be able to are available when there is a 5 to 10% correction,” he added.
Fentham-Fletcher predicted that the S&P 500 might rise by 15% by the top of this 12 months. He stated the climb within the inventory index will doubtless be pushed by an enchancment in company earnings amid a still-strong U.S. financial system.