LOL, now that he’s in the bull camp, probably means there will be a 20% correction in sometime in 2020[/quote]
He’s not in the “bull camp” – that’s a ridiculous characterization by CNBC (this is not a criticism of henrysd, who was just posting what CNBC said).
Paraphrasing the quotes in the article, he basically said “valuations are very high, but sure, the boom could continue for a while.” Simply acknowledging the possibility of short-term upside does not put one in the “bull camp.”
His framework is largely that valuations predict long term returns, but nobody has any idea what will happen in the short term. So to the extent there is any forecast implied by his comments, it’s a negative one. (And I’d be very surprised if he expressed belief in a 1-year forecast regardless of direction).
