Yesterday (January 4, 2012) The Wall Street Journal had an article titled “Street Wary on Its Random Walk.” In this article, 2012 S&P500 price forecasts from 13 financial firms are displayed and discussed.
As seen in the subtitle, the strategists at the 13 firms expect, on average, for the S&P500 to end 2012 at 1334, a 6.1% gain. The median price forecast is 1340.
The article also shows how each firm’s 2011 forecasts fared vs. the actual S&P500 close of 1257.6; all but one of the forecasts proved to be too high.
I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1277.30 as this post is written