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.
Bason Asset Management 