Richard Coppleson at Goldman writes that stocks can be a lot higher over the next few years and we shouldn't limit our imagination just because The market has...

Richard Coppleson at Goldman writes that stocks can be a lot higher over the next few years and we shouldn't limit our imagination just because The market has already gone a long way. This is not a statement about the next two weeks or the next 50 points on the S&P 500, but instinct for the medium-term. He notes that if the recovery is actually underway in the US and Europe is over the worst then we are going to see a massive switch out of bonds and some of this cash has to go into equities.