Stock Market Forecasts

In Stock Market by Landmark Financial Advisors, LLC0 Comments

Not sure why CNBC, Bloomberg and Fox Business put so much weight on the Wall Street forecasts for future market returns.

It’s that time again where they will be prognosticating to get ratings, so let’s take a look at how they did in 2013:

Firm / S&P 500 Target / Missed it by this much (%, as of 12.10.2013)

  • Wells Fargo / 1,390 / 29.7%
  • UBS / 1,425 / 26.5%
  • Morgan Stanley / 1,434 / 25.7%
  • Deutsche Bank / 1,500 / 20.2%
  • Barclays / 1,525 / 18.2%
  • Credit Suisse / 1,550 / 16.3%
  • HSBC / 1,560 / 15.6%
  • Jefferies / 1,565 / 15.2%
  • Goldman Sachs / 1,575 / 14.5%
  • BMO Capital / 1,575 / 14.5%
  • JP Morgan / 1,580 / 14.1%
  • Oppenheimer / 1,585 / 13.8%
  • BofA Merrill Lynch / 1,600 / 12.7%
  • Citi / 1,615 / 11.6%
  • AVERAGE / 1,534 / 17.5%
  • MEDIAN / 1,560 / 15.6%

In other words, they all missed by miles (short of a major market correction over the next 14 trading days). Nobody was remotely close.

Source: Above The Market

“He who lives by the crystal ball soon learns to eat ground glass.” – Edgar Fiedler

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