“This isn’t a rerun of the 1970’s” - Siegel

This isn’t a rerun of the 1970s, argues Jeremy Siegel, the author of the seminal Stocks for the Long Run and a professor emeritus of finance at the University of Pennsylvania’s Wharton School.

The reason, he says, is that the Federal Reserve “stopped the growth of the money supply this year very dramatically.” That wasn’t the case during the Great Inflation of 1968 to 1983, when the consumer price index surged 186%, or 7.3% annually, exacerbated by two oil crises and high unemployment.

“Today’s valuations look quite attractive,” he says. “I won’t predict we’ve hit bottom, no one can, but an investor in this market may be well rewarded.”