Michael Steinhardt: more good news for investors

Legendary trader and chairman of WisdomTree Investments Michael Steinhardt isn't ready to call time on the bull run.

Legendary trader and chairman of WisdomTree Investments Michael Steinhardt is generally bullish on the US stockmarket. It "is certainly not cheap", but the fact that it keeps rising in the face of negative sentiment "leads me to believe that the markets are OK" and that "it will continue to go up until interest rates are raised meaningfully". That might take a while, says Steinhardt, who believes rate rises in the near future will be limited to "another quarter of a point or something like that".

In the longer term, "the American economy will continue to grow but not very quickly". While many people on Wall Street are worried about the presidential election, Steinhardttakes a more relaxed perspective.

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