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- S&P 500 could rise 15% this year - Freedom Asset Management
S&P 500 could rise 15% this year - Freedom Asset Management
Many stock markets globally have continued their strong run into the new year so it's time to start taking some profits, an investor said.
"I'm actually starting to think about trimming back some of the exceptional gains we had last year and coming through into this," Simon Fentham-Fletcher, chief investment officer at Freedom Asset Management, told CNBC.
"So from my perspective, yes, I think it is time to start taking 1, 2, 3% off and ... put away some cash (so) that you can come in when there's a 5 to 10% correction," he added.
Fentham-Fletcher predicted that the S&P 500 could rise by 15% by the end of this year. He said the climb in the stock index will likely be driven by an improvement in corporate earnings amid a still-strong U.S. economy. But if earnings don't recover and continue to slide, the stock market could correct - and investors with some cash on hand could find a window to invest again, he explained.
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