About that market forecast for next year

Bob Seawright has another great piece up over at Above The Market on the accuracy of Wall Street market forecasts. How did this year’s targets work? From Bob’s piece:

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%

It shouldn’t be a surprise that these forecasts are terrible, because we still can’t predict the future. In any case, go over and read the rest.

Missed It By *This* Much – Above The Market

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