Barry Ritholtz of Fusion IQ and The Big Picture blog — a longtime bear who presciently turned bullish in March — says the recent rally may only be two-thirds of the way done, and says not to underestimate America’s ability to develop new ways to grow.
Ritholtz tells Yahoo! TechTicker that he sees nothing in the technicals that indicates the rally is on its last leg, and says that, based on history — which is no guarantee, of course — we may only be in the sixth or seventh inning of the rally. “Bottom line is this is a resilient market where a lot of participants remain somewhat underinvested,” he said. Ritholtz also talks about a number of his current holdings, and gives an interesting look into how he incorporates both quantitative analysis and macro analysis into his portfolio management style.
In another segment of the interview, Ritholtz discusses whether buy-and-hold investing is dead, and says that while America is facing new competition from China and other nations, it remains the only country that has consistently come up with new ways to grow its economy.