It's time to take profits while waiting for another opportunity to reenter the markets, said Simon Fentham-Fletcher, chief investment officer at Freedom Asset Management.
Simon Fentham-Fletcher, chief investment officer at Freedom Asset Management, predicted that the S&P 500 could rise by 15% by the end of this year.
But it's time to start taking some profits while waiting for another opportunity to reenter the markets, he said.Traders work before the closing bell at the New York Stock Exchange on Aug. 14, 2019 in New York City.Many stock markets globally have continued their strong run into the new year — so it's time to start taking some profits while waiting for another opportunity to reenter the markets, an investor said on Tuesday.
"I'm actually starting to think about trimming back some of the exceptional gains we had last year and coming through into this," Simon Fentham-Fletcher, chief investment officer at Freedom Asset Management, told CNBC's "So from my perspective, yes, I think it is time to start taking 1, 2, 3% off and ... put away some cash that you can come in when there's a 5 to 10% correction," he added.
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