'Fear on steroids' will drive stocks higher, market bull Jim Paulsen predicts (via TradingNation)
The Leuthold Group's Jim Paulsen believes investor angst over the coronavirus pandemic is overdone."Fear is on steroids," the firm's chief investment strategist told CNBC's "" on Wednesday. "In the past where you had high levels of fear, that was typically a very good time to buy the stock market."
"The Federal Reserve and the Treasury are scared, as well. So, they're devoting unprecedented, massive policy support for risk assets," said Paulsen. "The combination of massive policy support and high levels of fear tell me that asset prices are probably undervalued."the economy faces significant downside risks and uncertainty as the nation battles the virus., the economy does not have to fire on all cylinders for the market to stage a comeback.
"Should even a partial restart of the economy take place, the magnitude and diversity of current economic policies could be far more powerful in boosting economic growth and the stock market than appreciated," he wrote.
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