U.S. Stocks May Rally Another 30 Percent, Gayed Predicts
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U.S. stocks may extend their rally by 30 percent this year as investors move money from bonds into stocks on growing confidence about the economy, said Michael Gayed, chief investment strategist at Pension Partners LLC.
“There’s a lot of scared money in bonds and defensive stocks,” Gayed, who helps oversee $160 million, said in a phone interview from New York. There may be “a major flow into risky assets as investors start to believe in the return of inflation which, in turn, will change how equities are perceived.”