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Jeremy Siegel: The Impact of the Brexit Vote on Markets
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Jeremy Siegel: The Impact of the Brexit Vote on Markets

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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Wharton finance professor Jeremy Siegel sees U.S. stocks rising 10% to 12% by year-end, despite any blowback to the world economy resulting from the Brexit – the U.K.’s looming withdrawal from the European Union. Siegel also says, in this Knowledge at Wharton interview, that the swoon in European stocks that followed the vote offers a buying opportunity. “If you were a longer-term investor, you are able to get European stocks … at around 12 [times] price-earnings ratio … an extremely good valuation in low-interest-rate environments.” He does not expect any other countries to leave the EU, and says a Fed rate increase this year remains possible, though not likely until after September. An edited transcript of the conversation appears below. Knowledge at Wharton: We’re here with Wharton finance professor Jeremy Siegel to talk about Brexit, with the U.K. voting to leave the European Union, and what it means for markets. Thank you for joining us today, Jeremy. Jeremy Siegel: I’m happy to be here.…

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