In an interview with Advisor Perspectives, Siegel says he “may be the lone optimist in this market.” The noted investment author and commentator argues that the current market P/E is a mere 10.7 and that investors could see stocks return 20% over the next 12 months, although he sees a very difficult fourth quarter and a tough first quarter for the overall economy. Siegel’s putting his money where his mouth is though, and has his long-term money invested in international dividend-paying stocks, which he thinks will outperform in the long term.