Finance

Depression backdrop will spark a wartime boom: market bull Jim Paulsen

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Stocks may see a super-sized comeback deep into next year.

The Leuthold Group’s Jim Paulsen sees the depression-like collapse setting the stage for a wartime-type boom.

“It forced companies to just knee-jerk react — to cut everything they could to try to survive this pandemic,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Wednesday. “What that has done is put them in a unique position with incredible profit leverage because they whittled down costs so low and increased efficiencies.”

That translates into tremendous earnings growth potential, according to Paulsen. He believes it’s a byproduct being radically underestimated by Wall Street.

“A lot of that boom will…



Source cnbc.com

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