{"id":2748,"date":"2020-04-14T08:29:53","date_gmt":"2020-04-14T08:29:53","guid":{"rendered":"https:\/\/www.maxlee.info\/blog\/?p=2748"},"modified":"2020-04-18T08:34:03","modified_gmt":"2020-04-18T08:34:03","slug":"he-pinpointed-the-coronavirus-market-bottom-and-now-hes-laying-out-what-he-sees-for-the-rest-of-the-year","status":"publish","type":"post","link":"https:\/\/www.maxlee.info\/blog\/news\/he-pinpointed-the-coronavirus-market-bottom-and-now-hes-laying-out-what-he-sees-for-the-rest-of-the-year\/","title":{"rendered":"He pinpointed the coronavirus market bottom and now he\u2019s laying out what he sees for the rest of the year"},"content":{"rendered":"

Whitney Tilson, who closed his hedge fund in 2017 after years of underperformance, has had plenty of misfires over his long career. Of course, he\u2019s not alone on Wall Street in that regard.<\/p>\n

<\/p>\n

\"Where's
Where’s this market headed?<\/figcaption><\/figure>\n

Published: April 14, 2020 at 12:03 p.m. ET, By Shawn Langlois<\/p>\n

But now, the founder and CEO of Empire Financial Research has reason to puff his chest over his recent market call. And puff his chest he did in a note posted on ValueWalk<\/a>.<\/p>\n

Claiming the stock market \u201creacted exactly as I expected it would,\u201d Tilson pointed out the fact that the S&P 500 bottomed on March 23 at 2,191.86 \u2014 the exact hour that he was discussing his optimistic outlook for the next phase of the coronavirus pandemic.<\/p>\n

\u201cWe pounded the table and said this was the best buying opportunity we\u2019d seen since the global financial crisis,\u201d he wrote. \u201cIt\u2019s been one of the fastest, biggest rallies in history.\u201d<\/p>\n

Days before that, in the midst of the steep selloff, Tilson was also touting the fire sale on stocks that just weeks before were selling for twice the price. \u201cCatching a falling knife requires a strong stomach, but history is on my side,\u201d he told Yahoo Finance in an interview at the time<\/a>.<\/p>\n

His bullishness last month, he said, was rooted in his hopeful prediction<\/a> for the slowing spread of the coronavirus \u201cwhich could happen as soon as a couple of weeks from now.\u201d<\/p>\n

The good news for bulls is that, if Tilson still has his fingers on the pulse of this pandemic market, stocks won\u2019t be revisiting the March lows soon. While he believes investors could be caught in a rangebound market for a few months, he\u2019s confident the year ends solidly higher.<\/p>\n

\u201cAs clarity emerges and we start to recover, the market moves materially higher and closes the year roughly 10% higher than today,\u201d he said, putting his target for the S&P above 3,000.<\/p>\n

At last check, the S&P 500 index was trading around 2,815, up nicely in Tuesday\u2019s trading session. The Dow Jones Industrial Average and the Nasdaq were also in rally mode. <\/p>\n

Source: www.marketwatch.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Whitney Tilson, who closed his hedge fund in 2017 after years of underperformance, has had plenty of misfires over his long career. Of course, he\u2019s not alone on Wall Street in that regard.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-2748","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/posts\/2748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/comments?post=2748"}],"version-history":[{"count":0,"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/posts\/2748\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/media?parent=2748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/categories?post=2748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.maxlee.info\/blog\/wp-json\/wp\/v2\/tags?post=2748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}