David Kotok: S&P Could Hit 1,600 if Politicians Don’t Kill Recovery

“The Standard & Poor’s 500 Index could climb to 1,600 by 2014 from about 1,350 today provided D.C. politicians don’t derail recovery with botched policies and finger-pointing, says David Kotok, chairman and Chief Investment Officer of Cumberland Advisors.

Meanwhile, a European Union decision to provide Spain with $35 billion in emergency loans to prop up its banking sector won’t work, as the move fails to address Europe’s fundamental problems of too much debt and too little growth.

In the U.S., hiring remains at bay as does consumer confidence and spending, largely in part because the country remains wary over the fate of the economy.”

Full article