The Strategist
The long view, patient, analytical, playing several moves ahead.
Jeremy Siegel earns The Strategist designation because his method is temporal depth, not reaction. The Wharton finance professor and author of Stocks for the Long Run treated pandemic-era monetary stimulus as a structural turning point, called the end of the bond bull market, and flagged unprecedented M1 velocity while others fixated on panic. His long-run identity is not branding.
“In and out, in and out, and hid yourself with the entire market. Index, I thought that index futures, which was, I think, in the very early 80s, like 81, 82, was also a very significant development.”
“Very, much more extensive. In fact, so I follow month by month the Cape ratio very closely, Bob, it did at the bottom of the bear market go below the average. And then a few months later, by May, and the average's bottomed in March, by May, it already jumped above. And I said to myself, come on.”
“And I wish that I knew when I started out 44 years ago. I wish That I was again, I was wedded to Capoy. At the same time, I said tech was crazy, and I didn't know how to reconcile those two. Now I can do a fundamental awaiting, I can get out of a sector that I think is overweighted or overweight in a sector that I think is really cheap.”
“Grind it out and all that, and assume that that's okay if we extend it in the future. But it isn't for stocks because stocks have a property which is now almost uniform. It wasn't at that time when I first wrote it, but afterwards now among academics is almost uniformly agreed.”
Masters in Business: “Jeremy Siegel on the Stock Market Under Covid-19 (Podcast)”
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