Billionaire Ron Baron sees the Dow reaching 500,000 in 50 years

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Purchase-and-hold billionaire Ron Baron predicted on Friday that the Dow Jones Industrial Common will attain 500,000 within the subsequent 50 years.

Talking from his annual funding convention in New York Metropolis, Baron informed CNBC that the inventory market displays the financial system. Due to this fact, he argued, if gross home product doubles each 10 years so will the market.

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Extrapolating that out, Baron mentioned in a “Squawk Field” interview: “The Dow Jones in 50 years will likely be 500,000.”

Traders can count on on common to make 7 or eight % per 12 months available in the market, mentioned the founding father of Baron Capital. “The inventory market is the perfect car for most individuals to put money into.”

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Baron’s prediction for Dow 500,000 just about traces ups with billionaire investor Warren Buffett‘s considering. Final 12 months, Buffett mentioned he sees the Dow reaching 1,000,000 in 100 years.

The Dow closed on Wednesday at 26,191.

Baron, an ardent critic of shopping for and promoting shares primarily based on headlines, informed CNBC Friday his agency makes billions of {dollars} by doing in depth analysis, after which making long-term investments in what he feels are undervalued corporations.

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Additionally like Buffett, Baron mentioned index funds are probably the greatest locations for particular person buyers to place their cash.

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