Fundstrat’s Tom Lee keeps making bold stock calls — and nailing them

[Pelican Press 0]

Fundstrat’s Tom Lee keeps making bold stock calls — and nailing them

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and Alphabet would lead the rebound. That was an unpopular view, he said, after 2022 raised questions as to whether tech’s market leadership was done for good. Instead, the tech-heavy Nasdaq Composite soared more than 40% last year, in what Lee called a “defining moment” for the sector. “The ones who were hawkish in 2022, and said the market was going to go down, no evidence changed their mind in 2023,” said Lee, a JPMorgan and Salomon Smith Barney alum. “A lot of people stuck to a really bearish view last year, and missed a recovery to all-time highs.” Bullish on the future Lee said a recession could make him turn bearish on stocks. But Fundstrat’s constructive view in recent years is partly because the risk of a downturn isn’t as great as believed, he said. “There was a pretty widely-held view that the Fed had to ****** the economy in order to contain inflation,” Lee said. “But our view is that inflation was going to normalize pretty quickly.” While he said neither outcome was completely correct, “it’s probably tracked closer to our view, because the Fed has not had to create a recession to control inflation.”

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Investment strategy,Stock markets,Prices,S&P 500 Index,Russell 2000 Index,NASDAQ Composite,Meta Platforms Inc,

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