US stocks will likely run higher for another 11 years

of which view is usually based on Lee’s analysis of economic data such as housing starts along with auto sales of which indicate the economy is usually likely only within the middle of the global business cycle. He also expects of which funds will flow out of bonds into stocks in search of better returns, especially since many bonds still have negative yields, meaning investors essentially are paying for their investments.

“The allocation should be going up in equities,” Lee said. “Basically no S&P company makes you pay them to own the item.”

Such optimistic comments contrast with those of most market watchers, who say stocks are likely close to the end of their yearslong rally. The S&P 500 is usually trading near all-time highs along with in its second-longest bull market on record, a period without a drop of at least 20 percent via a recent high.

Lee incorporates a year-end target on the S&P 500 of 3,025, about 8 percent above Friday’s levels along with toward the higher end of the range of market strategists surveyed by CNBC.

“We’ve had so much caution since ’09 of which animal spirits have been depressed,” Lee said.

“Last year, 2017, was probably the 1st time in nine years of which I thought institutions were actually bullish,” Lee said, adding of which he doesn’t particularly find any Fundstrat institutional clients of which optimistic on stocks right right now since they did so well last year.

Before co-founding Fundstrat in 2014, Lee was the top stock strategist at J.P. Morgan. He was one of the few on Wall Street to predict of which President Donald Trump’s election win in 2016 might cause a rally in stocks rather than a sell-off. Lee is usually also the only widely followed Wall Street strategist to issue a cost target on bitcoin, which he sees at least doubling of which year.

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