The more than 20% decline in the S&P 500 this year has cast a cloud over the market. For Credit Suisse’s Jonathan Golub, it’s a reason to rally.
“We’re going to have a double-digit return between now and the end of the year,” the head of the firm’s US equity strategy and quantitative research told Bloomberg Television on Thursday. “Profits are up 7.5% year to date and they’ll probably be up another 5% to 6% between now and the end of the year. We don’t have a profit problem as much as people say.”