Earlier in the year, Lee predicted the S&P 500 would rally to 5100 by year-end, a 39% increase from current levels. That contradicts what other prominent voices on Wall Street have said about the market. JPMorgan CEO Jamie Dimon warned investors of a 20% downside to stocks. Other top names have been sounding the alarm on the Fed’s aggressive approach to rate hikes and the potential for the central bank to tank the market and the economy.
“I think it’s also unrealistic for investors to say that markets go straight down,” Lee said. “It’s been a tough year, unfortunately. I wish markets were performing better, but we’re in a tough situation with inflation and that’s been a tough monster to slay,” Lee said.
