Why the Bull Market Is Only at Mid-Cycle

(Bloomberg) --

Veteran stock-market strategist Jeffrey Saut’s retirement lasted only three weeks. Now he’s back, joining the “What Goes Up” podcast to explain why all the hand-wringing about 2020 may not be necessary.

Saut isn’t worried about the “longest bull market ever” coming to an end, despite fears in some quarters that the economy is near the conclusion of the business cycle. “The downturn was so severe and the recovery so muted that what you’ve done is elongate,” Saut says. “We’re still in mid-cycle.’’ 

Regardless of what happens, he adds, there will be a lot of people claiming they saw it coming: “There’s so many people in this business that talk out of both sides of their mouths that—no matter what the markets do—they can say ‘see I told you so’.”  

Also joining the podcast is Bloomberg Markets Live blogger Pimm Fox, who shares his views on the outlook for equities and commodities.

©2019 Bloomberg L.P.

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