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.
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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.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 1277.30 as this post is written