Still Bullish After All These Years
Joseph Battipaglia, executive vice-president and chief investment officer of Ryan Beck & Co., is legendary as a bull, and despite the recent downdrafts, he's still optimistic. He expects the Standard & Poor's 500-stock index to end the year around 1300 (it closed at 1181 on Apr. 8), basing his prediction on expectations that corporate profits will expand 9% this year, the Federal Reserve will hike interest rates in quarter-point increments, and investors will find equities attractive.
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