iBankCoin
Joined Nov 11, 2007
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$BLK’s Fink: DOW 28k in Five to Six Years

“Stocks are hitting record highs on a seemingly daily basis, and BlackRock CEO Larry Fink thinks the bull market has another five or six years to go.

Investors could experience annual returns of 8 to 10 percent during that period, he tells CNBC. This could put the Dow Jones industrial Average above 28,000 in 2019.

“Sounds pretty good, doesn’t it?” he quips.

That would represent an 83 percent jump from the 15,314 level prevailing Wednesday afternoon. The Dow reached an all-time peak of 15,542 a week ago.

Given corporate earnings strength, stocks offer attractive values, Fink says.

“The S&P [500] is around 15½, 16 times earnings,” he explains. “There’s no question in my mind that equities remain … fairly cheap.” …”

 

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