Date: Thursday 03 July
Time: 12.30pm - 2.00pm
Location: Hotel Tivoli - Av. da Liberdade 185, Lisboa
First Trust's economic team have taken a more bearish view on the overall market than most other fund houses. Our price target for the S&P 500 by the end of 2025 being 5,200 (around a 12% reduction from current levels). One of the main reason for our bearishness on the S&P is due to multiple expansion. The S&P is currently trading at 25X forward earnings (a phenomenon that has only occurred 3% of the time in the last 100 years) and has always been followed by significant mean reversion (think 1999 and 2022). Although we are bearish on the S&P and believe a correction is coming, we aren't saying you should remove your equity allocation. We remain very bullish on the broader market and see considerable opportunities presenting themselves further down the cap spectrum and specifically towards companies with strong fundamentals.
Please join Andrea Bugnoni and Gregg Guerin as they discuss First Trust's outlook for the US market, the potential for Black Swan events and the various opportunities that are presenting themselves outside of the largest names in the index.
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