[W]here will it [the market] be in 5-7 years? By then the US economy is likely to be $20 trillion in nominal GDP. Our view: it will be higher or maybe even very much higher. We have a longer-term target of 2000 or higher on the S&P 500 index. In addition, dividend yields now exceed treasury interest while we wait. 10% of our US ETF model is in Wisdom Tree dividend ex-financial ETF. (Symbol-DTN) It has outperformed the market by 500 basis points on the way down. We are bullish.
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