CNBC threw a couple of widely differing stock views on its Web site today. In the bullish corner, Mizuho Securities chief investment strategist Carmine Grigoli argues the stock rally will continue, according to CNBC, with shares up another 15% to 20% by next summer, as “fundamentals are very favorable.”
But David Wright, money manager at Sierra Core Retirement Fund, and Lee Eugene Munson, CIO at Portfolio Asset Manager, threw cold water on stocks in a double-header, with Wright saying the dollar’s rise is a multi-month trade that he’s buying into, and Munson saying he’s taken money out of Brazil and shipping equities to build a cash position. “The stock market is simply out of fuel,” Wright told CNBC.
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