Finance

‘Fear on steroids’ will drive stocks higher: Market bull Jim Paulsen

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The market may be in better shape than Wall Street thinks.

The Leuthold Group’s Jim Paulsen believes investor angst over the coronavirus pandemic is overdone.

He predicts stocks will return to all-time highs sooner than it takes for the economy to recover.

“Fear is on steroids,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Wednesday. “In the past where you had high levels of fear, that was typically a very good time to buy the stock market.”

He lists widespread anxiety over losing life savings and jobs as classic characteristics of a recession. Not only are these elements present in the current downturn, there’s a third element: Fear of losing your life or a loved…



Source cnbc.com

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