While Europe has had more than its fair share of trouble in recent years, Wells Capital’s Jim Paulsen thinks European equities are a good bet right now.
Paulsen tells CNBC that the fact that the European Central Bank is becoming more accommodative is good news for European stocks. “I love the fact that Draghi and the policy officials are going to get more aggressive with stimulus at a time that we have just cheapened those markets,” Paulsen said. “I think growth in this region — which has fallen to about 1 percent — is going to accelerate to 2 percent.”
Paulsen has said he expects European stocks to outperform US equities over the next year, according to CNBC. “I really think the euro itself against the dollar is going to recover somewhat, so the strong theme that the U.S. is the place to be and the dollar is the place to be — I think is overblown a bit,” he said. “We may find out that Europe is the opportunity,”