Fundstrat's Tom Lee has been getting a lot right about quick market moves in recent years. Since the pandemic and its aftershocks created a unique environment for stocks, Lee has made unconventional and sometimes bold short-term calls on where equities will go next. Better yet, the head of research and co-founder at Fundstrat has established a sterling track record as many of his predictions have panned out.
For example, a call that the S & P 500 would rise 100 points on a positive consumer price index print came true last year. The next big test is his estimate that the S & P 500 should rise 4% in June to a record 5,500 points; it's currently up more than 3.5% and briefly topped that level this week.
.SPX 1M mountain The S & P 500 over the last month In an interview with CNBC Pro, Lee said he gets nervous "all the time" about making calls that offer specific timeframes and outcomes, something that's considered difficult to successfully do given both have to be right. But Lee said his confidence to do so stems from the fact that these outlooks are based on history and probability.
"As they say, it's not good to try to pick level and time," said the Wharton School accounting graduate. But, "a lot of times our work shows us both." A 'true' inflation picture Another recent feather in his cap: Lee said that May and June should be strong after April's correction.
That's true so far, with the S & P 500 jumping 4.8% in May after finishing April down 4.2%.
Lee doesn't expect to be ri.
