"Remember, bull markets climb the wall of worry. You know, what's going on in the Mideast, Ukraine—those are the worries. Bull markets top off when no one sees a problem on the horizon, everyone is in, there's no one else to come in," he said. "We are not at that area, and we know the public is still very gingerly putting their toes in this market with disbelief. That does not mark a top of the market. And that's why I think this bull has room to run."
Siegel didn't see the Federal Reserve's expected reduction of asset purchases as much of a headwind, either.
"So, if the Fed eases in March or April instead of late in the summer (of 2015), so it goes to 50 basis points, is that going to end the bull market? I mean, that is still unbelievably low compared to anything historical," he said. "So, the 10-year goes from 2½ to 3—and maybe even 3½—that's still extraordinarily low from any historical (perspective). And that's why, again, stocks have that wind of the interest rates going with them no matter when the Fed starts tightening."
Jeremy Siegel uber-bullish Wharton professor of finance said that the index, which hit an all-time high on Tuesday, has further to climb.
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