Salient to Investors:
David Tepper at Appaloosa Management said:
- P/E ratios for US stocks are not high and junk bonds are at the mid-point of fair value.
- The US economy is good.
- The end of the bond market rally started last month when the ECB unexpectedly cut interest rates and said it would start QE.
- Long-term, Bill Gross’s departure from Pimco does not mean anything because the market is a market and is bigger than anybody.
- The S&P 500 is at 15.2 x estimated earnings versus the average 13.8 over the past 10 years.
Read the full article at http://www.bloomberg.com/news/2014-10-01/tepper-says-u-s-stocks-interesting-as-junk-bonds-at-fair-value.html
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