A former head of technical and market analysis at Bank of America believes the S&P 500 could soar to astronomical levels in the coming years before sparking a major downturn.
In a new Bloomberg interview, Wall Street veteran Mary Ann Bartels says she expects the current secular bull market in equities to last until the end of the decade.
According to Bartels, investors have a few more years to ride an “amazing wave” in stocks.
“So secular bull markets last 15 to 20 years. We started a secular bull market in 2013. I’m estimating we’re going to end that cycle in a bubble. And that’s how I get to 10,000 to 13,000.”
Bartels warns that by 2030, she expects equities to collapse and go into a bear market for more than a decade.
“And then we peak. And then this is what you don’t want to hear. We go into a secular bear market for 15 to 20 years, meaning that stock prices are flat for that time period.”
For now, Bartels says the growth spurred by AI will likely keep the market bullish in the coming years.
“We’re in the digital era, and what’s happening is technology is getting better, and it’s getting adopted a lot faster. Even the CEO of Anthropic said their demand far exceeded their expectations. I think their high-end expectations were like 20-fold in growth, and they got 80-fold in growth, which is incredible.
So I think that’s what’s happening is we’re not even understanding how AI is transforming companies, economies, and the world. We’re still trying to figure that out and digest that. But if we follow what analysts are doing with their numbers, they’re still raising their estimates. So that is still very bullish for the markets.”
As of Monday’s close, the S&P 500 is trading at 7,412.
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