O'Leary also suggested that fears of the Federal Reserve's benchmark rate hitting 6% have subsided, and that investors are optimistic that Fed Chair Jerome Powell has avoided a recession. He compared the current market situation to the peak of a rollercoaster, with investors anxiously awaiting a drop in rates. Despite ongoing market concerns, O'Leary predicted that investors will ultimately overlook these and continue to drive asset prices up.
Key takeaways:
- Kevin O'Leary advises investors to own stocks now instead of waiting for interest rates to fall, warning that they risk missing out on major gains.
- He believes that trying to time the market is a mistake and that investors should maintain a long position in equities.
- The S&P 500 and Dow Jones Industrial Average have seen significant gains this year, with the latter closing at a record high on Friday.
- O'Leary suggests that investors are confident that the Federal Reserve has avoided a recession and that interest rates will not hit 6%.