Morgan Stanley Says S&P 500 to Drop 25%, Cuts Outlook

[newporttony]

My favorite part of the article:

Wall Street equity strategists lost credibility last year when none predicted a down year and the average forecast was for a gain of 11 percent, according to data compiled by Bloomberg. The stock index plunged 38 percent, the steepest decline since the Great Depression.

Morgan Stanley Says S&P 500 to Drop 25%, Cuts Outlook (Update1) - Bloomberg.com

Are we supposed to care what these people predict??

 

[ziggy29]

Stock analysts are notorious for closing barn doors after the horses have escaped. This can be seen by the number of times they downgrade a stock AFTER terrible news or earnings have slashed a stock in half. If I pay these clowns all that money to manage mine, I'd like them to see train wrecks coming before the actual collision.

 

[FANOFJESUS]

I believe -25% S&P 500 maybe even more.

 

[Gone4Good]

Are we supposed to care what these people predict??

No.

The idiocy of the prediction is self evident:

Should the S&P 500 follow Todd’s forecast, the index would tumble [25%] to 560 and then surge 47 percent to finish 2009 at 825.

Sounds like he wants to be at least half right regardless of what happens.

 

[ziggy29]

The idiocy of the prediction is self evident:

Sounds like he wants to be at least half right regardless of what happens.

Good catch. Either way he could say that he was right but only missed on the timing.

 

[ikubak]

Wow, so it's going to go DOWN and it's going to go UP. As you say, he'll get the call right no matter what. He just may miss the timing.

 

[Dawg52]

Who gives as rats a$$ what these jokers think anymore. Maybe this is a positive sign.

 

[Purron]

Are we supposed to care what these people predict??

Only if they have a good prediction on who will win American Idol. Otherwise, no way.

 

[Darryl]

Wow, thanks for the info. I'm on it.

 

[landonew]

Good catch. Either way he could say that he was right but only missed on the timing.

I thought timing was everything.

 

[crazy connie]

Perhaps they know there is another big pile o' crap under the proverbial MS sheets and they are sure all the other Wall Street beds are the same?

Good enough reason to tread lightly in financials this year.