November of last year marked the first year in over 15 that investors had more of their assets allocated to cash than to equity. Not surprisingly this cash is beginning to find its way into the market.
“Most investors have missed the rally” in U.S. stocks, so further gains are likely as they spend some of their cash to buy shares, according to Andrew Garthwaite, a global strategist at Credit Suisse Group.
Garthwaite believes the S&P 500 Index could reach 1,000 before settling at 920 at year end.
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Catch-Up Buying May Lift S&P 500 as High as 1,000
By: David Wilson
May 1, 2009