That’s the Leuthold Group’s Jim Paulsen explaining to CNBC this week how this “wall of worry” could be just the thing to ignite the next phase of this bull...
‘The longest expansion ever in U.S. history... an inverted yield cure, and trade wars, and geopolitical risk, a fresh 20% decline still in the memory of investors just late last year... the behaviors of everyone rushing to defensive stocks to bonds, to gold — anything BUT a bull attitude. I like that.’ That’s the Leuthold Group’s Jim Paulsen explaining how a “wall of worry” could be what ignites the next phase of this bull market in the second half of the year.
Defensive sectors like utilities, consumer staples and REITs, used as hedges against mounting risks, have helped push the Dow Jones Industrial Average DJIA, -0.09% toward its best month in almost four years. “[There’s] a lot of support for this economy and this market — and a lot of fear and caution,” Paulsen added. “That’s a powerful combination, I think, for higher levels here down the road.” And by higher levels, he means the S&P 500 SPX, +0.29% perhaps toppling the highest target on Wall Street, which is currently held by Deutsche Bank at 3,250, a double-digit gain from here.
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