Late last year, and again earlier this year, I stated - right here on Jayhawk's Nest - that we can expect the S&P 500 index to retrace to 1170. Some of you probably thought that I was delusional.
Well, today, David Kostin, the chief US investment guru for Goldman Sachs, said that he expects a "swath of lowered profit guidance," and as a result "the S&P index to reach 1,160" over the "near term."
Need another opinion?
Scott Anderson, chief economist at Wells Fargo, is equally pessimistic, describing the bullish views of some market players as "bordering on delusional".
You can find the full article here.
It's good to know someone, err... sometwo, agrees with me.
You've been warned.
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The Sage of Lawrence
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