Wall Street’s Annual Stock Forecasts: Bullish, and Often Wrong
By
Minh Uong/The New York Times
Don’t expect Wall Street investment houses to predict a stock market decline in 2017. That’s just not what they usually do.
Instead, they engage in an annual ritual that is underway right now: Every December as the holidays approach, Wall Street gurus examine the stock market, and nearly all declare that stocks will rise in the forthcoming calendar year.
The forecasts are still coming in for 2017, but preliminary tallies suggest that — no surprise — strategists are bullish, probably mildly so. Through last year, since 2000, the consensus has always been bullish, holding that the market would rise, on average, about 9.5 percent a year, according to calculations by Bespoke Investment Group. In reality, it rose only 3.9 percent a year, on average, in that period…
Wall Street’s Annual Stock Forecasts: Bullish, and Often Wrong
