Levkovich Raises S&P Target to 2,425

The transcript discusses the expected rise in S&P 500 earnings, driven by factors like the energy sector and tax cuts. It highlights the impact of Trump's tax cuts on earnings and market valuation, noting the temporary nature of such fiscal policies. The speaker critiques the use of valuation metrics, emphasizing the influence of investor perception and historical trends. A review of 2016 performance is provided, with insights into sector performance and expectations for 2017.

What does the speaker suggest about the relationship between bond markets and stock valuations?

What were the two areas where the speaker felt they missed their targets for 2016?

What is the speaker's outlook for financials and energy sectors in the coming year?