Tuesday December 9, 2014

// December 9th, 2014 // Daily News

Jeremy Siegel predicts stock correction in 2015

Longtime stock bull Jeremy Siegel told CNBC on Tuesday that he expects a correction—defined by a 10 percent drop from record highs—in 2015, but advised investors not to wait and try to time the market. Overall, he said, he’s still bullish on stocks.
“We’ve gone so long. I think in 2015 we’ll have our ‘first’ correction,” The Wharton School finance professor said in a “Squawk Box” interview. “People say, ‘Doesn’t that mean I should wait for that?’ The answer is, ‘No,’ because if it’s up 15 percent and then goes down 10 [percent], you’re still better off buying today. You don’t know when that’s going to come.”
Global stocks were under intense pressure Tuesday, after more than 5 percent drop in Chinese equities and an 11 percent plunge in Greece. On Monday, the Dow Jones Industrial Average dropped triple-digits in its worst session since October as oil prices fell sharply in New York trading.
Ahead of Monday’s selloff, James Paulsen, chief investment strategist at Wells Capital Management, said he’s going “underweight” the U.S. for 2015 after being bullish for years.
The Dow Jones Industrial Average on Friday had been less than 9 points from the key 18,000 level before trimming some gains to close at 17,958. Siegel has been predicting 18,000 before year-end.
Three weeks ago, he told CNBC that he saw favorable market trends—including the prospect for solid economic growth with low inflation—that could push the Dow past the 20,000 mark by the end of 2015.
The Wharton professor’s optimism last month followed a bit of doubt during the October selloff about whether his prediction of Dow 18,000 by year-end would come to pass.

Today’s Inspiration

Believe in Prayer

by Joyce Meyer – posted December 09, 2014

Don’t worry about anything; instead, pray about everything. Tell God what you need, and thank him for all he has done.
—Philippians 4:6 NLT

How many problems have you solved by worrying? How much time have you spent worrying about things that didn’t end up happening? Has anything ever gotten better as a result of your worrying about it? Of course not!

The instant you begin to worry or feel anxious, give your concern to God in prayer. Release the weight of it and totally trust Him to either show you what to do or take care of it Himself.

Prayer is the blueprint for a successful life. During His time on Earth, Jesus prayed. He entrusted everything to God—even His reputation and life. We can do the same. Don’t complicate your communication with God. Believe in Him and ask Him for what you need through simple, confident prayers.

Power Thought: Worry accomplishes nothing. I trust in the Lord.

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